Art NFT Market Plunges: Trading Volume Drops 93% Since 2021 Peak
The Art NFT market, once a bustling hub of activity, is now experiencing a significant downturn. In the first quarter of 2025, trading volume has plummeted to $23.8 million, a stark contrast to its 2021 peak of $2.9 billion. This decline reflects a broader trend of correction and decreased interest in the stock market today.
The stock market's correction began as early as 2022, with trading volume dipping by 19% to $2.38 billion. This downward trend has continued, with a 93% collapse in trading volume since 2021. The number of active traders has also declined significantly, from a peak of 529,101 in 2022 to a mere 19,575 in Q1 2025.
The average price of an Art NFT has mirrored this decline, falling from its 2021 peak of $2,044 to $645.34 in Q1 2025. This decrease is not surprising, given the reduced trading volume and interest in the stock market today. However, it is worth noting that even at its lowest point, the average price of an Art NFT is significantly higher than its 2020 level of $28.7 million.
One bright spot in the market has been the rise of Bitcoin-based NFTs, or Ordinals. Since 2023, average prices for these NFTs have surged from $63.45 to $633.24 in Q1 2025. However, this growth has not been enough to offset the overall decline in the Art NFT market.
The Art NFT market's decline is evident, with trading volume and active traders both significantly reduced. While the average price of an Art NFT remains higher than its initial levels, the stock market today remains uncertain. The rise of Ordinals offers a glimmer of hope, but it is clear that the Art NFT market has a long road to recovery.
