NFT Trading Falls Fifth Consecutive Quarter Down 80% to $823M, DappRadar Reports

Key Points

1. NFT trading volumes fell 80% to $823 million in Q2 2025 compared to $4 billion in the prior-year period, with annual trading volume in 2022 exceeding $50 billion.

2. Despite declining trading volumes, NFT sales increased by 78%, indicating significant price drops while interest remains.

3. Profile picture NFTs saw a 72% drop in trading volume, while Real-World Assets rose to second place with a 29% increase.

4. Monthly NFT traders increased by 20% to 668,598, with Domain NFTs growing due to TON blockchain activity linked to Telegram users.

5. Gaming NFTs dominated quarterly charts, while the art category saw a 51% decrease in volume but a 400% surge in sales.

6. Major platforms like Bybit, Solsniper, LG Art Lab, Kraken’s NFT marketplace, and X2Y2 exited the NFT market due to declining volumes and financial losses.

7. The NFT lending market collapsed by 97% to $50 million monthly volume, with borrower participation dropping by 90% and lender participation falling by 78%.

8. GONDI overtook Blur’s Blend protocol to lead the NFT lending sector with 54.2% of the market, while Pudgy Penguins dominated collateral loans with over $203 million since January.

9. Average loan sizes shrank from $22,000 in 2022 to lower amounts, and loan durations tightened to an average of 31 days in May 2025, down from 40 days in 2023.