Weekly NFT Market Trend Report

Market Overview

As we enter the first quarter of 2025, the NFT market has experienced significant fluctuations, notably a sharp decline in trading volume. Data shows that NFT sales plummeted by 63% compared to the same period last year. Bitcoin-based NFT transactions have also suffered a severe drop, totaling just $291 million— a 79% decrease from $1.4 billion in Q1 2024.

In contrast, Ethereum (ETH) has once again demonstrated its strong performance, recording a 22% increase in weekly trading volume, highlighting a stark difference from Bitcoin, which saw a 47% decline during the same timeframe.

Highlighted Projects/Collections

Ethereum continues to lead the market with a sales volume of $142 million, despite a substantial 58% decrease in the previous month. In fact, Ethereum accounted for approximately 50% of the total trading volume in the NFT market in January 2025. Notable NFT collections and projects this month include prominent names from the GameFi and metaverse sectors, although market interest is rapidly waning.

Emerging NFT Types

The rise of Bitcoin NFTs (Ordinals) and GameFi NFTs cannot be overlooked. However, given the sharp decline in Bitcoin NFT sales, the question remains whether they will have sufficient appeal to compete with Ethereum in the near future. Investors should note that despite advances in Bitcoin's blockchain technology, it remains unclear if users will accept these technologies for interacting with NFTs.

Floor Price Volatility

The floor prices for NFT collections on Ethereum are currently under severe pressure due to the overall downward trend in the market. Ethereum is now testing a crucial support level at $1,831 after a 45% decrease in Q1. A failure to establish strong resistance at $2,000 could lead to increased selling pressure, affecting the NFT market as a whole.

Future Trend Insights

In light of the current situation:

It can be stated that if this downward trend continues, Ethereum may struggle to maintain its competitive edge against Bitcoin in 2025. Investors and NFT enthusiasts should exercise caution during this period and closely monitor technical indicators as well as market volatility.

Conclusion

The sophistication in Ethereum's technology and projects has allowed it to retain a significant market share in the NFT space, but the future remains uncertain, especially as the market undergoes significant adjustments. Closely watching key indicators and trends in the coming months will be crucial for making informed investment decisions.

Key Takeaways:

NFT market sales fell 63% year-over-year with Bitcoin NFT transactions experiencing a 79% drop.
Ethereum shows resilience with a 22% increase in weekly trading volume, capturing 50% of January's NFT trading.
Emerging NFT types, particularly Bitcoin NFTs, face challenges in competing with Ethereum.
The Ethereum floor price is under pressure, testing crucial support levels, which could indicate potential further declines.
Investors should remain cautious and monitor market indicators closely as 2025 unfolds.