NFT winter deepens: Monthly sales hit lowest point of the year
NFT monthly sales dropped to $320 million in November, the lowest point this year, reflecting a broader market capitalization decline.Summary
The NFT market is experiencing a deepening winter, with monthly sales volume falling to $320 million in November, a 66% decrease from January highs and half the volume seen in October. This decline brings sales back to September 2024 levels, and the weak start to December suggests the trend will continue. Overall sector market capitalization is down 66% from January, sitting at $3.1 billion according to CoinGecko.
Most major NFT collections saw declines, with CryptoPunks falling 12% and Bored Ape Yacht Club dropping 8.5% over the last 30 days. Hypurr experienced the largest drop among the top 10, shedding 48%. However, two collections bucked the trend: Infinex Patrons gained 14.9%, and Autoglyphs surged by 20.9%.
This weakness follows a turbulent quarter where NFT market cap dropped from $6.6 billion to $3.5 billion between October and November, despite a slight temporary recovery mid-November.
(Source：Cointelegraph)