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NFT Trading Volume Falls 30% as Ethereum Activity Surges and Traders Multiply

Sun Nov 02 2025

NFT volumes drop 30.73% to $95.8M, but buyers and sellers surge. Ethereum-based NFTs rise 12.94%, showing resilience and network-specific growth as Bitcoin NFT activity fades.

NFT Market Volume Drops 30%, But Traders Flood In — Ethereum Holds the Line

The NFT market just pulled a paradox: fewer dollars, more traders. Despite a 30.73% crash in volume to $95.8 million, both buyers and sellers are up double digits — signaling that while big money’s cooling off, community engagement is heating up.

⚡ Quick Hits

📉 Volume: Down 30.73% to $95.8M
🛍️ Buyers: +22.82%
💰 Sellers: +13.54%
🔗 Ethereum: Volume +12.94%, still NFT king
₿ Bitcoin: NFT transactions down, signaling divergence

📉 Volume Down, Activity Up

The NFT market is doing its best impression of Schrödinger’s cat — simultaneously shrinking and expanding. According to latest data, transaction volume cratered 30.73%, but user participation surged. More wallets are trading, just with smaller or more strategic deals.

That’s a sign of market resilience, not retreat.

“Despite the dip in NFT trading volume, we’re seeing increased participation from both buyers and sellers, illustrating resiliency in the community,” said Greg Solano, CEO of Yuga Labs.

In short: the whales might be quiet, but the crowd is growing.

⚖️ Ethereum vs. Bitcoin: A Tale of Two Chains

Network-level trends reveal a sharp divergence:

Ethereum saw a 12.94% uptick in NFT transaction volume — a reminder that ETH remains the cultural and liquidity backbone of digital collectibles.
Bitcoin, on the other hand, experienced a decline, reflecting weaker demand for Ordinals and BTC-native NFTs.

Analysts say this isn’t a market-wide collapse — it’s network-specific rotation. Ethereum’s robust ecosystem (Blur, OpenSea, Magic Eden, etc.) keeps it dominant in NFT infrastructure, even as Bitcoin’s experimental NFT phase cools off.

🧠 Market Psychology: Strategy Over Speculation

Historical NFT cycles show a familiar pattern: when volumes dip but engagement spikes, it often precedes new waves of innovation — or accumulation.

Active traders may be testing market depth, accumulating undervalued assets, or simply reallocating liquidity after months of volatility. It’s less about the hype, more about strategic positioning.

💎 Why It Matters

The NFT sector is quietly maturing. Volume may no longer be the best health metric — participation, retention, and builder activity tell a richer story.

Ethereum’s steady performance underscores its dominance as the home of culture tokens, while the rising number of traders suggests the space isn’t dying — it’s evolving.