The NFT market just posted another week of pain. Sales volume dropped to $58.34 million, falling 20.34% from last week’s already weak numbers.
Bitcoin tanked below $70,000 this week for the first time since November 2024. That crypto crash dragged everything down with it, including digital collectibles that were supposed to be the future of art and ownership.
The NFT sales crash keeps getting worse. Two consecutive weeks of declining volume have collectors wondering if we’re headed back to 2022 levels.
Buyers and sellers both showed up, but nobody’s spending
Despite the NFT sales crash, more people actually participated in the market this week.
Buyers climbed 21.97% to reach 296,018 wallets. Sellers jumped 24.63% to 270,495. But transaction volume dropped 4.33% to 660,674 trades.
That tells you everything. People are trying to exit positions or snap up what they think might be bargains. But the big money isn’t flowing anymore.
The wider crypto market lost over $400 billion in value this week. Bitcoin fell from around $78,000 on February 1 to below $70,000 by Thursday, erasing every gain since Trump’s election victory in November 2024.
Global crypto market cap now stands at $2.41 trillion, down sharply from last week’s $2.83 trillion.
Ethereum still leads despite taking a beating
Ethereum dominated blockchain NFT activity with $34.97 million in sales. That’s still a 23.63% weekly drop.
The network drew 33,663 buyers, up 20.44% from last week. Wash trading on Ethereum hit $2.91 million during the period.
Bitcoin-based NFTs got hammered even worse. Sales fell 32.81% to just $4.66 million. Despite that decline, Bitcoin attracted 12,770 buyers, up 17.10%.
Base claimed third place at $4.14 million, actually climbing 8.46% while drawing 83,552 buyers who rose 6.09%.
BNB Chain landed fourth with $3.93 million in sales, declining 20.62% despite seeing 39,715 buyers increase by 21.37%.
Solana rounded out the top five with $2.61 million in sales, posting a modest 1.14% gain. The network drew 80,610 buyers who surged 56.69% from last week.
Immutable dropped to sixth position at $2.34 million, down 29.10%.
Also Read: Are NFTs Coming Back in 2026? 120% NFT Buy Surge Says So
Flying Tulip PUT leads collections, CryptoPunks bounce back hard
Flying Tulip PUT on Ethereum maintained its top spot with $11.41 million in sales. That’s a brutal 49.06% plunge from last week’s performance. The collection processed 530 transactions from 259 buyers.
The real story this week belongs to CryptoPunks.
The blue-chip collection surged 146.56% to claim $4.71 million in sales after last week’s 52.35% decline. CryptoPunks completed 69 transactions from 44 buyers, with both metrics more than doubling week over week.
A Base collection took third with $2.11 million in sales, climbing 15.82%. Pudgy Penguins posted $2.09 million, down 6.96%. Bored Ape Yacht Club recorded $1.90 million with a 59.79% surge.
TokenVestingPlans on Ethereum landed in sixth with $1.65 million, climbing 67.85%. Guild of Guardians Heroes rounded out the top seven with $1.50 million, down 22.82%.
CryptoPunks dominate high-value sales
CryptoPunks claimed three of the week’s five highest-value sales, proving blue-chip collections still command premium prices even during market turmoil.
CryptoPunks #5402 led with $265,585 (113.5 ETH) four days ago. CryptoPunks #9170 fetched $139,761 (72 ETH) just 14 hours ago.
Wrapped Ether Rock #98 sold for $109,128 (109,127.74 USDC) seven days ago. Autoglyphs #256 went for $105,512 (50 ETH) two days ago. CryptoPunks #1112 rounded out the top five at $92,850 (48.48 ETH) one day ago.
These sales show that while the overall NFT sales crash continues, established collections with strong communities and proven track records still find buyers willing to pay six figures.
What’s driving this NFT sales crash?
Bitcoin’s collapse below $70,000 triggered mass liquidations across crypto. Over $2.56 billion in Bitcoin positions got wiped out in roughly 24 hours this week.
The correlation is clear. When Bitcoin bleeds, NFTs hemorrhage.
Bitcoin has fallen roughly 40% from its October 2025 all-time high of $126,000 CNBC. That kind of drawdown destroys the speculative appetite that fueled NFT mania in 2021.
Geopolitical tensions, hawkish Federal Reserve policy, and a strengthening dollar all contributed to the risk-off sentiment. Treasury markets got choppy. Tech stocks tanked. Everything risky sold off hard.
NFTs remain one of the riskiest asset classes in crypto. When institutions and retail alike head for the exits, digital collectibles get dumped first.
The NFT sales crash also reflects fundamental market exhaustion. The hype cycle that drove 2021 valuations into absurd territory has completely unwound. Celebrity endorsements dried up. Corporate Web3 strategies got quietly shelved.
What remains is a smaller, more focused market where utility matters more than speculation.
Also Read: How NFTs Will Reshape The Future Of Crypto In 2026
A few bright spots in the wreckage
Not everything collapsed equally during this NFT sales crash.
CryptoPunks’ 147% weekly surge shows blue-chip collections with strong holder bases can still rally hard. Pudgy Penguins maintained solid trading volume through aggressive community engagement.
Gaming NFTs on Immutable continue generating real transaction volume tied to actual gameplay, not pure speculation. Collections with utility beyond profile pictures showed more resilience.
But these pockets of strength don’t change the broader trend. The market has contracted sharply and shows no signs of stabilizing yet.
Why did NFT sales crash this week?
The NFT sales crash followed Bitcoin’s drop below $70,000, triggering risk-off sentiment across all crypto markets. Declining trading volume despite rising buyer counts suggests participants are exiting positions rather than accumulating.
Which NFT collections performed best during the crash?
CryptoPunks surged 146.56% with $4.71 million in weekly sales, dominating high-value transactions. Bored Ape Yacht Club also rallied 59.79%, showing blue-chip collections maintain buyer interest despite market weakness.
Will the NFT market recover from this crash?
Recovery depends on broader crypto market conditions and Bitcoin price stability. Historical patterns suggest NFT markets follow Bitcoin trends with amplified volatility. Utility-focused projects may recover faster than pure speculation plays.
How does this NFT sales crash compare to 2022?
Weekly volume of $58.34 million remains well above 2022 lows, but the consistent decline over two consecutive weeks mirrors early bear market patterns. The key difference is higher buyer participation despite lower dollar volume.
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