- Monthly NFT sales plummeted to $320 million in November, down 49% from $629 million in October.
- Its market capitalization has fallen 66% from $9.2 billion in January to just $3.1 billion today.
The non-fungible token industry continued to slump, recording its worst performance in 2025 as trading volumes declined across major collections. According to CryptoSlam analysis, November’s monthly revenue fell to just $320 million, a significant 49% drop from October’s $629 million. The sector’s cumulative market value has fallen to $3.1 billion, a significant 66% drop from January’s high of $9.2 billion.
The first week of December saw only $62 million worth of sales, the weakest weekly performance of the year and a sign that the economic downturn is here to stay. Industry officials say the momentum appears to have stopped completely, with little sign of recovery in the near future.
A collection of blue-chip companies suffer widespread losses.
In general, most of the top NFT collections that have been around for quite some time have significantly lost their value during November. Only a few exceptions were able to break away from the negative trends that were prevalent in the market.
CryptoPunks remains the highest-valued collection on the market, but it has fallen 12% in the last month. Bored Ape Yacht Club’s value fell 8.5% and Pudgy Penguins’ value fell 10.6%. These numbers therefore indicate weaknesses across traditionally stable digital assets.
Art-heavy series struggled in November, with Fidenza losing 14.6% of its value and Moonbirds dropping 17.9%. Reflecting widespread selling pressure in the sector, Mutant Ape Yacht Club fell 13.4% and Chromie Squiggle fell 5.6%. The biggest drop in the top 10 rankings in November was Hypurr’s 48% drop, making it the worst performer of the collection for the month.
In the highly negative market that dominated November, only two collections were able to make positive profits. Infinex Patrons, which currently ranks second in terms of market capitalization, is up 14.9% over the period, while Autoglyphs was the most notable single performer. Generative art collections grew by 20.9%. This placed it in second place, far behind other top-tier NFT projects in November, in a very challenging market environment.
As 2025 draws to a close and investor interest wanes and fewer investors are involved, the prolonged decline is causing people to question what the short-term prospects are for the sector.