According to the latest Binance research, the NFT market saw a sharp decrease in March 2025. The total sales volume over the top 10 block chains decreased by 12.4%, indicating a weaker interest from buyers. Only two chains – tough and panini – brought the trend.
The number of unique NFT buyers has fallen to the lowest level since October 2023, which indicates a delay caused by global economic pressure.
Will NFTs go out in 2025?
NFTS based on Ethereum the most. Turnover on the network fell by 59.3%, with only cryptopunks that registered growth in the Top 20 collections. Bored Ape Yacht Club and Pudgy Penguins placed both losses of more than 50%.
Panini saw a strong increase in activity. The digital collective objects jumped with 259.2% in sales and placed it in the top 10 NFT -Block chains.
With a long inheritance in physical collection objects, the digital range of Panini uses blockchain to validate the possession of assets.
Monthly NFT trading volume in the past year. Source: Binance
Despite the wider delay, brands and makers continue to explore new NFT concepts. Azuki collaborated with artist Michael Lau to launch a physically supported NFT.
The Sandbox collaborated with Jurassic World to bring recognized dinosaurs into its metaare experience.
However, market contraction has led to various closures. Bybit announced that it is closing its NFT Marketplace, Inscription Marketplace and IDO platform.
X2Y2 also ends after using $ 5.6 billion in trade volume. The activity has fallen by 90% since NFTs peaks in 2021 and pushed many platforms out of the market.
“Marketplaces live or die due to network effects. We fought with tooth and nail to be #1, but after three years it is clear that it is time to continue. The NFT chapter has taught us a lot – especially of everything, that lasting value. Those lessons why we draw a line here, but wrote a complete stop on X2Y2 as we knew, ‘x2Y2.
Kraken also ended his NFT activities in February and shifted the focus to other business areas.
In the meantime, NFT-related tokens will continue to fall. Magic Eden has lost 94% of its value since the launch four months ago. Pudgy Penguins (Pengu) has fallen almost 30% in the past month, despite the Coinbase list.
The income from Ethereum has also taken a hit. The income of the transaction costs have fallen by 95% since the end of 2021, powered by falling NFT activity and fewer contributions from Layer 2 networks.
This is reflected in the price of Ethereum, because the Altcoin fell by 58.8% compared to his all time. Q1 2025 marked its worst quarter since 2018.