Non-fungible token sales took a hit last week, falling 10% despite increased market activity. CryptoSlam data reveals that total NFT sales reached $155 million over the seven-day period, even as the number of buyers, sellers, and transactions climbed more than 20%.
Major Collections See Sharp Declines
The weekly downturn was largely driven by CryptoPunks, which saw sales tumble 42% to $20.2 million. This drop came after a recent surge that pushed monthly sales up 450% to over $62 million. The CryptoPunks ETF collection has now generated cumulative sales exceeding $3.16 billion, securing its position as the third most popular collection behind Axie Infinity and Bored Ape Yacht Club.
We are currently seeing a trend in NFTs towards more lending transactions, especially for grails.
A ton of CryptoPunks (worth over $30M USD total), Pudgy Penguins, Bored Apes and other bluechip NFTs are currently on loans via the three major NFT lending platforms: NFTfi, Blend… pic.twitter.com/TmcwlPQSbr
— wale.moca 🐳 (@waleswoosh) June 12, 2025
Pudgy Penguins also struggled, with sales declining 43% over the past week to $4.6 million. The collection’s performance mirrored the struggles of the PENGU token, which has entered bear market territory after dropping 32% from its yearly peak.
Some Collections Buck the Trend
Several NFT projects managed to post gains that partially offset the broader decline. Courtyard NFT sales climbed 35% to $11.27 million, accompanied by a 23% rise in transaction volume. Bored Ape Yacht Club recovered with a 10% increase in sales to $6.26 million, while DMarket surged 77% to $4.84 million.
Other standout performers included Guild of Guardian Heroes, SpinNFTBox, and Sorare collections, which helped cushion the overall market downturn.
July had delivered strong results for the NFT space, with notable collections like CryptoPunks, Pudgy Penguins, Bored Ape Yacht Club, and Moonbirds leading the charge. Ethereum-based NFT sales soared over 68% to $296 million, while Bitcoin and Solana collections jumped 42% to $77 million and 10% to $10 million respectively.
Polygon emerged as the month’s biggest loser, with sales dropping 59% primarily due to Courtyard’s 25% decline. BNB Chain, Immutable, and Mythos Chain all posted losses exceeding 40%.
The NFT market typically mirrors broader cryptocurrency trends, with sales volumes rising during crypto bull runs. This pattern was evident in July when Bitcoin’s record highs lifted most altcoins and drove increased NFT activity across major platforms.
Market Implications
The decline in major NFT collections alongside broader crypto market weakness suggests continued pressure on digital collectibles in the near term. Investors may exercise increased caution as market sentiment shifts toward risk-off positioning across digital assets.
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