Cheaper NFTs Mean Sales Are Surging, But Trading Volume is Plummeting

DappRadar's Q2 2025 report found that NFT trading volume fell 45% quarter-on-quarter even as sales rose 78%, which the report links to lower average prices. Trading volume stood at $823 million in Q2, down from $4 billion a year earlier, while 12.5 million sales took place, compared with 7 million in Q1 2025. The report says art NFTs became "more accessible to a wider audience," with art volume down 51% but art sales up 400%. OpenSea was the exception among marketplaces, with a 156% quarter-on-quarter rise ahead of its upcoming $SEA token. Web3 also lost $6.3 billion to hacks in Q2.