The NFT market closed the year under heavy pressure, showing no sign of a traditional “Santa rally” as valuations, sales, and participation all declined sharply. Market data throughout December points to fading speculative interest, thinner liquidity, and growing caution among traders and collectors.
NFT Market Valuation Slides to 2025 Lows
Non-fungible tokens continued their downward trend in December, with total NFT market valuation falling to $2.5 billion, the lowest level recorded in 2025. This marks a steep 72% drop from the sector’s January peak of $9.2 billion, highlighting how far the market has retreated over the year.
Sales activity remained weak following an already soft November. During the first three weeks of December, weekly NFT sales failed to break $70 million, lagging behind the previous month’s pace. With year-end liquidity drying up, December appears set to reinforce the broader late-2025 slowdown.
Despite earlier optimism driven by renewed interest in real-world collectibles—such as viral physical toys and trading cards—the NFT market has struggled to regain momentum or attract sustained demand.
Buyers, Sellers, and Floor Prices All Under Pressure
The slowdown in NFT sales was matched by a sharp decline in market participation. The number of unique NFT buyers fell from 204,000 at the end of November to 184,000 in early December, before dropping further to around 135,000 by the third week of the month. Seller activity mirrored this trend, with unique sellers plunging 35.6%, falling below 100,000 for the first time since April 2021.
Transaction volume also weakened. Total NFT transactions slipped to roughly 800,000 in the third week of December, down from nearly one million at the start of the month, signaling reduced trading activity across marketplaces.
Floor prices across major NFT collections reflected the broader downturn. Leading projects such as CryptoPunks, Bored Ape Yacht Club, and Pudgy Penguins recorded 30-day price declines between 12% and 28%, showing that even established brands were not immune to market pressure.
However, some art-focused collections proved more resilient. Projects like Autoglyphs, Fidenza by Tyler Hobbs, and Chromie Squiggle by Snowfro posted modest gains, suggesting that high-quality generative art continues to attract niche demand.
One notable shift in rankings came from Sports Rollbots, which entered the top 10 NFT collections by market capitalization. With a floor price near $5,800 and a valuation exceeding $58 million, the collection’s rise pushed Mutant Ape Yacht Club out of the top tier.
Overall, December’s data paints a clear picture: the NFT market ended 2025 with lower valuations, fewer participants, and limited speculative enthusiasm, raising questions about when — or if — a broader recovery might arrive.
