Non-fungible tokens (NFTs) have fallen to their lowest monthly sales volume of the year, with digital collectibles shedding more than 66% of their market capitalization since January’s peak.
According to CryptoSlam, NFT sales slid to $320 million in November—roughly half of the $629 million recorded in October. This drop brought monthly volumes back to levels last seen in September 2024, when sales totaled $312 million.
Weekly figures reflect similar weakness. From Dec. 1–7, NFTs generated just $62 million in sales, marking the weakest weekly performance of 2025. The sluggish start to December suggests the downturn may continue as market momentum fades.
The decline comes alongside deteriorating NFT valuations. CoinGecko data shows the sector’s total market cap has fallen to $3.1 billion, a steep drop from its January high of $9.2 billion.
Blue chips slide, but Infinex Patrons and Autoglyphs buck the trend
CoinGecko data shows that most leading NFT collections continued to track the broader market downturn, with CryptoPunks—the largest by market cap—dropping 12% over the past 30 days.
Bored Ape Yacht Club fell 8.5%, and Pudgy Penguins declined 10.6% during the same period, extending the pullback across top-tier NFT assets.
Art-focused blue chips were hit as well. Chromie Squiggle dipped 5.6%, Fidenza slid 14.6%, Moonbirds dropped 17.9%, and Mutant Ape Yacht Club lost 13.4% over the last month.
Hypurr saw the steepest drop among the top 10 collections, plunging 48%.
Despite the broader slump, two major collections posted strong gains. Infinex Patrons, now the second-largest NFT collection by market cap, rose 14.9% in the past 30 days, while Autoglyphs led the pack with a 20.9% surge, standing out as the best performer in the top 10.
NFT winter deepens as 2025 draws to a close
The latest downturn caps off a turbulent quarter for the NFT market. As Cointelegraph previously reported, digital collectibles saw a steep valuation slide from October to November.
During that period, NFT market capitalization fell from $6.6 billion to $3.5 billion—despite a modest uptick in sales—marking a sharp 46% drop in just 30 days.
A brief rebound followed. On Nov. 11, the NFT market cap climbed from $3.5 billion to $3.9 billion, reflecting a short-lived surge in demand that coincided with a memecoin rally.
But the momentum quickly faded. According to CoinGecko, the market cap has since fallen to $3.1 billion, representing a 53% decline from October and signaling that the NFT winter may continue into year-end.
