NFT activity on the Ethereum network recorded an unprecedented decline, with only 1,127 non-fungible tokens registered on August 1, 2025, the lowest level in the network's history, according to 'CryptoQuant' data.
This sharp decline reflects the loss of momentum that this sector experienced after the significant boom during 2021 and 2022.
Despite the overall improved climate in the cryptocurrency market during 2024 and 2025, the NFT market has not been able to regain its previous allure.
Analysts believe this decline is due to waning investor interest, an abundance of low-quality projects, and a shift in liquidity towards emerging sectors such as second-layer DeFi and tokenization of real-world assets.
Historically, Ethereum has been the most important environment for the growth of the NFT sector, making this decline concerning in terms of network returns and investor expectations.
These figures come after a surprising performance in July, with 'DappRadar' data indicating a 96% increase in trading volume to reach $530 million, despite a 4% decrease in the number of sales.
While the average price of NFTs rose from $52 in June to $105 in July, most activity was centered on the 'Blur' platform, which captured 80% of Ethereum trades thanks to its tools aimed at professional traders.
'OpenSea' also maintained an active user base with an average of 27,000 traders daily.
The 'Base' network affiliated with 'Coinbase' has emerged as one of the leading NFT trading centers since its launch, recording $122 million in trading volume across 6.7 million transactions since the beginning of the year.
