NFTs continued to weaken toward the end of the year, with the overall market slipping to its lowest valuation so far in 2025.
Figures from CoinGecko show that the total value of the NFT market dropped to $2.5 billion in December. This marks a steep 72% fall compared to the $9.2 billion peak recorded in January.
The drop came as trading activity stayed muted after an already slow November. During the first three weeks of December, weekly NFT sales did not cross $70 million, underperforming even the previous month.
With year-end liquidity drying up, December is reinforcing the broader downward trend seen in late 2025. Despite some renewed interest earlier in the year, driven by demand for physical collectibles such as Labubu figures and Pokémon cards, NFTs have not managed to regain past momentum.
Lower participation drags down NFT sales
The fall in sales was matched by a clear decline in user activity, as both buyers and sellers pulled back during December.
Data from CryptoSlam shows that the number of unique buyers dropped from 204,032 in the final week of November to 184,302 in the first week of December. This figure continued to slide through the month, reaching 135,120 by the third week.
Seller numbers also declined sharply. Over the same period, the count of unique sellers fell by 35.6%, dropping below 100,000 for the first time since April 2021.
Transaction volumes weakened as well. CryptoSlam reported that NFT transactions fell to around 800,000 in the third week of December, down from fewer than 1 million recorded in the opening week.
Major NFT collections see price drops, with limited bright spots
Price trends among leading NFT collections reflected the broader market slowdown. Most of the top 10 projects by market value recorded double-digit price declines over the past 30 days.
According to CoinGecko, well-known collections such as CryptoPunks, Bored Ape Yacht Club, and Pudgy Penguins saw their floor prices fall between 12% and 28%, showing continued pressure even on established names.
Some art-based projects performed better than the wider market. Collections like Autoglyphs, Fidenza by Tyler Hobbs, and Chromie Squiggle by Snowfro managed to post small gains during the same period.
One standout was Sports Rollbots, which climbed into the top 10 NFT collections by market value. The project reported a floor price of about $5,800 and a valuation exceeding $58 million, pushing Mutant Ape Yacht Club out of the top 10 rankings.
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