According to the latest Binance research, the NFT market saw a sharp drop in March 2025. Total sales volume across the top 10 blockchains fell by 12.4%, signaling weaker buyer interest. Only two chains—Immutable and Panini—bucked the trend.
The number of unique NFT buyers dropped to its lowest level since October 2023, pointing to a slowdown caused by global economic pressures.
Are NFTs Dying Out in 2025?
Ethereum-based NFTs suffered the most. Sales on the network dropped 59.3%, with only CryptoPunks recording any growth among the top 20 collections. Bored Ape Yacht Club and Pudgy Penguins both posted losses of more than 50%.
Panini saw a strong surge in activity. Its digital collectibles jumped 259.2% in sales, placing it among the top 10 NFT blockchains.
With a long legacy in physical collectibles, Panini’s digital offering uses blockchain to validate asset ownership.
