NFT Trading Volumes Plunge

NFT trading volumes experienced a significant quarter-on-quarter drop of 45%, according to a recent report, even as sales surged by 78%.

DappRadar noted continued interest in digital collectibles, despite the sharp decline in average purchase prices.

Trading volume for NFTs reached $823 million in Q2, a steep drop from $4 billion a year prior, marking the decline of multimillion-dollar sales like Bored Ape Yacht Club and CryptoPunks.

During this quarter, there were 12.5 million NFT sales, down from 15 million in Q2 2024, yet an increase from the 7 million sales in Q1 2025.

Significantly, the report highlighted that the art category saw a 51% decrease in volume; however, sales soared by 400%, indicating a drop in prices making art NFTs more accessible.

Domain NFTs experienced a good quarter, largely due to heightened activity on the TON blockchain, as Telegram users purchased anonymous, number-based domains linked to their accounts without SIM cards.

NFT marketplaces faced a double-digit decline in sales, except for OpenSea, which had a 156% quarter-on-quarter rise in anticipation of its upcoming $SEA token.

Users are actively trading cheaper collections to earn points for future rewards, according to DappRadar.

On the other hand, dapp users remained steady at 24.3 million. While gaming continues to lead in popularity, AI-related projects have surged to capture 18.6% of the market share.

The quarter was grim regarding hacks, with Web3 losing $6.3 billion from exploits, marking a 215% increase compared to the previous quarter, one of the highest figures since the FTX collapse.

DappRadar lamented that despite years of awareness, the industry still struggles with secure management of user funds, highlighting the need for continued vigilance and maturity within the space.