Ethereum NFT Activity Drops to Record Lows in 2025

Ethereum NFT Activity Drops to Record Lows in 2025

Ethereum’s NFT market activity reached a historic low in August 2025, with daily mints dropping drastically and major platforms like X2Y2 announcing shutdowns.

The downturn reflects broader market impacts and user shifts, highlighting network-driven challenges and prompting shifts towards AI and decentralized initiatives.

Ethereum NFT activity has reached historic lows in 2025, affected by both market dynamics and reduced user participation. Despite a mid-year surge in the sector, daily new NFT mints and trading volumes have fallen sharply.

The contraction is impacted by macroeconomic shifts and the Ethereum (ETH) price drop. Major platforms like OpenSea , Blur, and X2Y2 face severe reductions in activity.

The decline has prompted X2Y2’s leadership to announce a strategic pivot away from NFTs, citing a 90% decrease in market transactions. This drastic shift changes platform dynamics significantly. As the X2Y2 CEO stated, “Market platforms live and die by network effects. It’s time to let go and build something with more lasting value.” source

The drop in NFT trading volume and blue-chip valuations reflects broader sentiment shifts. CryptoPunks and Bored Ape Yacht Club are particularly affected, with billions wiped from total valuations.

The collapse has not only financial implications, affecting trader confidence, but also technological reverberations. The pivot towards AI integration suggests a burgeoning interest in new sectors within blockchain technology.

Historically, September has seen ETH price weaknesses, and this trend continues. With liquidations triggered by price drops, NFT market contraction is evident, even as DeFi and Ethereum’s base network remain robust.