Data: November NFT sales hit a new low for the year, with the overall market value down 66% from the January peak

According to CoinTelegraph, data shows that NFT sales dropped to $320 million in November, about half of October's $629 million, bringing monthly trading volume back to its lowest level since September 2024. Additionally, from December 1 to 7, NFT sales amounted to $62 million, marking the lowest weekly record since 2025.

The report indicates that the weak start in December suggests that this downturn may persist throughout the month as the enthusiasm for NFTs wanes. This downward trend aligns with the overall decline in NFT valuations, as data from CoinGecko shows that the industry's total market capitalization is currently $3.1 billion, down 66% from the January peak of $9.2 billion.