The declining trading volume of NFTs mirrors the fading interest of users in non-fungible tokens; since the beginning of 2025, the hype of this sector seems to be cooling.
Yet the decline in volume of 60% in February 2025 from December 2024 has been constantly observed, the data says ballooning in the sector’s volume was observed in the last quarter of 2024.
The bearishness in NFT volume clearly suggests that holders and users are migrating toward crypto and other such assets, excluding the non-fungible tokens.
NFT volume reached $1.36 billion in December 2024; why is it fading now?
Sara Gherghelas, an analyst at DappRadar, says that the volume of non-fungible tokens reached $1.36 billion in the last month of 2024. Yet, the recorded volume in January 2025 was 26% less, and another 50% decline was registered in February 2025.
The report by DappRadar, published on March 06, 2025, notes that UAW’s industry dominance in the decentralized applications ecosystem is dominated by DeFi and Games, and only 15% is contributed by non-fungible tokens.
It is important to note that gaming, sports, and profile picture-based NFTs have remained hyped for the last month, and such products on the Ethereum chain have performed better than others.
The data available on Crypto Slam states that the total NFT volume fell over 21% in the past 24 hours, reaching $14,877,591, yet in a weekly frame, a slight addition of 23% has also been seen.
Crypto Punks remains among the favorites of NFT traders, and in the past seven days, the title of the most pricey NFT is held by CryptoPunk#4464, traded for $2,196,233, followed by Uncategorised Ordinals#7d0b………io sold for $1,321,676.
With these costliest deals in the NFT market, there are now arguments coming that the market of non fungible tokens is seen running faster and bullish in the coming sessions.
Several positive factors could push NFTs to new heights, including the 1st crypto summit held in the White House on March 7th; the summit is expected to shower dozens of surprises for the crypto and blockchain industry.
Why is the market expected to boost its acceleration today?
Until publishing, the crypto market cap was in the red, below $3 trillion with a loss of roughly 4%, however, this decline seems to be falling to reduce the favoritism for cryptocurrencies, with speculations of nearing spikes.
The digital asset market is expected to recover today, March 7th, because, before the beginning of the crypto summit at the White House, the president of the United States, Donald Trump, signed on March 6th an order to establish a strategic Bitcoin reserve, Reuters reported.
Earlier this week, Todayq reported that Mr. Trump has announced the names of cryptocurrencies that will be held by the reserve are XRP, Solana, Bitcoin, Cardano, and Ethereum; this announcement pushed the market cap of these digital assets in the upward direction.
The tumbling in Bitcoin prices might get eroded in upcoming sessions, as the fear and greed index seems to be recovering at a greater pace, with the market expecting surprises favoring crypto by the end of the crypto summit held at the White House.
