The Bear Trap: NFT Market Hits 2025 Bottom, What's Next for Upcoming NFT Drops?

December 2025 is shaping up to be a harsh reality check for the NFT community. According to data compiled from CoinGecko and CryptoSlam, the digital collectibles market has contracted sharply, signaling one of the toughest periods of the year.

Market Capitalization Collapse

The total NFT market value has cratered to $2.5 billion in December, representing the weakest showing since January’s peak of $9.2 billion. That’s a staggering 72% decline over the course of the year. More concerning is the trend acceleration—the first three weeks of December saw weekly sales hover below $70 million, a further deterioration from November’s levels.

Participation on Life Support

Trading activity tells a grim story. CryptoSlam’s metrics reveal a consistent exodus of market participants:

• Unique buyers dropped from 204,032 at November’s close to 135,120 by week three—a gut-wrenching 34% decline
• Unique sellers plummeted 35.6% in the same window, dipping below 100,000 for the first time
• Transaction volume compressed from 1 million at December’s start to just 800,000 by week three

This hollowing-out of participation raises the critical question: are we seeing a temporary lull, or a structural shift in NFT demand?

Blue-Chip Blues

The market’s flagship projects are feeling the pressure. CryptoPunks, Bored Ape Yacht Club, and Pudgy Penguins have all logged floor price declines ranging from 12% to 28% over the past month. These projects, once considered the bedrock of NFT valuations, are struggling to find bids.

Art Holds Steady, New Players Emerge

Not all segments are under water. Art-focused NFTs like Autoglyphs, Fidenza, and Chromie Squiggle have demonstrated surprising resilience, logging modest gains despite broader weakness. More intriguingly, Sports Rollbots has crashed the top ten by market capitalization, boasting a $5,800 floor price and a total valuation exceeding $58 million—bumping Mutant Ape Yacht Club off the elite list.

The Bigger Picture

With the NFT market in bear hibernation, the question of upcoming NFT drops carries extra weight. Will fresh projects reignite interest, or will they land in a market that’s lost its appetite? The data suggests traders are being highly selective, making differentiation more critical than ever.