The worldwide non-fungible token market is experiencing one more bear market season, which started someday in November. In response to this downturn, buying and selling has slowed, and many individuals seem to have shifted their consideration to different markets. That doesn’t imply merchants are executed taking dangers. Nonetheless, the eye has gone again to memecoins, particularly these constructed on Solana [SOL].
NFT Market Meltdown Defined
Information compiled by tiexo.com, a multi-chain non-fungible token explorer, signifies that total NFT exercise has decreased step by step, with few spikes and a flat buying and selling sample throughout varied NFT marketplaces. The NFT market share has change into more and more concentrated, with OpenSea and Blur accounting for almost all of complete buying and selling quantity, whereas smaller NFT platforms are dropping relevance.
Previously 30 days, OpenSea, the most important buying and selling platform when it comes to buying and selling gross sales quantity, has generated a buying and selling gross sales quantity of $73 million, accounting for 53% of the whole buying and selling gross sales quantity throughout the 5 prime NFT marketplaces. Blur, a specialised Ethereum-based NFT market and aggregator designed for skilled merchants, providing superior analytics, quick NFT sweeping, and nil market charges, ranks second with a buying and selling gross sales quantity of $30 million.
Magic Eden, a number one multi-chain NFT market and Web3 platform that permits customers to purchase, promote, mint, and commerce digital belongings throughout Solana, Bitcoin, Ethereum, and Polygon, ranks third in December, with $18 million. CryptoPunks, an NFT market devoted to CryptoPunks NFT collections, and Tensor, the main NFT market on Solana, rank fourth and fifth, with $10 million and $2.23 million.
However, the main NFT assortment have seen their flooring worth plunge in December. Mutant Ape Yacht Membership, an NFT assortment from the digital asset agency Yuga Labs, is essentially the most impacted NFT assortment amid the NFT winter. Over the previous 30 days, the Mutant NFT assortment has seen its flooring worth decline by 30% to 0.59 ETH. Lil Pudgy is the second most impacted NFT, with its NFT flooring worth plunging +34% to 0.46 ETH.
supply: nftpricefloor.com
In the course of the ongoing NFT winter, Moonbirds, an NFT assortment beforehand from the digital asset agency Proof Collective however now managed by Orange Cap Video games, has additionally seen its flooring worth fall. Previously 30 days, the Moonbirds NFT flooring worth has shrunk by 21% to 1.45 ETH. Different NFT collections which have seen their flooring worth drop embody CryptoPunks, Bored Ape Yacht Membership, and Pudgy Penguins.
Different blue-chip NFT collections, such because the Azuki, Chimpers, Bitcoin Puppets, Good Vibes Membership, Milady Maker, Doodles, and NodeMonkes, have seen their flooring worth worth plunge by +20% in December 2025. In comparison with different months, many NFTs are undoubtedly dropping momentum, and they’re not on the heart of the highlight. It’s true that the NFT market just isn’t useless. However the place have NFT merchants shifted their consideration to?
NFT Merchants Have Shifted To Memecoins
Information from CoinMarketCap reveals a constant quantity throughout the most important memecoins. Massive names like Dogecoin [DOGE], Shiba Inu [SHIB], and Pepe [PEPE] are proof. Regardless of the crypto meltdown, their numbers are astounding. Newer entrants are additionally experiencing sturdy day by day buying and selling exercise. Lots of the most actively traded tokens over the previous week are both native to Solana or closely traded on it.
Information additional reveal that different Solana-based memecoins publish excessive quantity regardless of smaller market caps. They’re often traded fairly than held long-term. Furthermore, low transaction charges and quick settlement make it simpler for merchants to enter and exit positions rapidly. This retains exercise elevated. This may occasionally have been what led to the short consideration from NFTs. Merchants are searching for markets that permit them to maneuver rapidly and step away with brief positive factors as rapidly as doable.
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