NFT Sales Down 97% From Peak as Ethereum and Polygon Lead Activity
By Darren Smith
November 10, 2026
The non-fungible token market entered November 10, 2026, in a state of continued contraction, with weekly sales volumes remaining in the low tens of millions of dollars even as participation metrics showed pockets of resilience and specific segments such as tokenized physical collectibles generated outsized activity. Data tracked by platforms including CryptoSlam indicated that the most recent seven-day period ending around November 7 recorded approximately $32.05 million in global NFT sales, a decline of 19.61 percent from the preceding week’s roughly $39.87 million. Earlier snapshots had shown even steeper drops, including a 44 percent fall to $37.69 million in one early-November tally and a 35.37 percent decline to $42.13 million in late October. These figures stand in stark contrast to the market’s peak, when monthly volumes reached billions of dollars in 2021 and 2022; by one widely cited measure, overall sales remain roughly 97 percent below the January 2022 high.
Ethereum retained its position as the leading blockchain for NFT trading in the latest weekly data, generating about $12.82 million in sales, a modest gain of 5.80 percent from the prior period. Polygon followed closely, while the Base network posted notable growth, rising 29.82 percent to approximately $1.95 million and securing a stronger ranking among chains. Buyer addresses increased in several recent periods even as dollar volumes fell, suggesting that smaller transactions and a broader set of participants continued to engage despite thinner liquidity. Average transaction values hovered near $40 in the most recent week, down from higher levels earlier in the cycle, according to calculations based on CryptoSlam aggregates. Total cryptocurrency market capitalization stood near $2.65 trillion in early-November checks, with Bitcoin around $76,000 and Ethereum near $2,245, providing the broader backdrop against which NFT activity unfolded.
Blue-chip collections continued to anchor what liquidity remained on Ethereum. Floor prices for CryptoPunks hovered near 29.99 to 30.4 ETH as of November 10 observations from tracking sites, with recent sales including individual Punks changing hands around that level and one higher-profile transaction for Punk #4441 reported at 278 ETH. Bored Ape Yacht Club floors sat near 5.9 ETH in 24-hour rankings, while Pudgy Penguins traded around 2.2 ETH. These levels remain far below historical peaks—Bored Apes, for instance, have traded more than 90 percent below their 2022 highs in dollar terms in prior monthly comparisons—yet the collections still recorded measurable daily and weekly volume. Notable recent activity included sales of multiple Bored Ape NFTs by traders such as Machi Big Brother, with one series of six Apes reportedly generating around $83,880 in a short window earlier in the month.
Tokenized and utility-linked collections drove a disproportionate share of volume. The Courtyard collection on Polygon led weekly rankings with roughly $8.18 million in sales, accounting for about one-quarter of the global total in the latest seven-day window and featuring more than 147,000 transactions. The project links on-chain NFTs to physical trading cards stored in a U.S. vault, allowing redemption of the underlying assets. Similar strength appeared in prior weeks for Panini America and other card-related projects, underscoring a shift toward assets with tangible backing or clear secondary-market utility. Gaming-related items, such as those from Guild of Guardians Heroes on Immutable, also appeared among higher-volume collections in recent tallies, though at lower absolute levels than Courtyard.
Marketplace dynamics continued to reflect the broader downturn. Blur, once a dominant Ethereum venue that captured more than 70 percent of volume at its March 2023 peak of roughly $1.43 billion monthly, is set to shutter its frontend website on November 12, 2026. The platform’s on-chain marketplace contracts will remain operational, and BLUR token holders will retain control of the fee switch, but Blend, its NFT lending service, will stop matching new loans on the same date. Borrowers face a firm deadline to repay or default. The announcement, which followed the wind-down of related projects such as Blast, comes after Blur’s monthly volume fell more than 99 percent from its peak, according to reports citing DefiLlama and Token Terminal data. Only 21 of 56 early NFT marketplaces launched between 2017 and 2023 were still actively trading as of mid-October assessments, with many others closed, absorbed, or pivoted.
Analysts tracking the space have described the current environment as a narrowed, utility-oriented market rather than a return to speculative peaks. “The volume is lower, but the transactions that remain are increasingly tied to assets with real-world connections or established brand recognition,” said one market observer in commentary surrounding recent CryptoSlam updates. Participation has not collapsed entirely: buyer and seller address counts rose in multiple weekly snapshots even as sales values declined, and monthly totals for October 2026 were reported near $181.6 million—still well below 2025 levels but above the trough months earlier in 2026.
Key developments shaping the market on and around November 10 include:
- Ethereum’s consistent lead in blockchain sales volume despite overall declines.
- Base network’s double-digit percentage gains in successive weekly reports.
- Courtyard and similar tokenized collectibles capturing large shares of transaction counts and dollar volume.
- Blue-chip floor prices stabilizing in ETH terms near multi-year lows relative to 2021–2022 records.
- Ongoing marketplace consolidation, with Blur’s frontend closure two days away.
A summary of recent weekly chain performance drawn from CryptoSlam-linked reports illustrates the distribution:
| Blockchain | Approximate Weekly Sales | Notable Change |
|---|---|---|
| Ethereum | $12.82 million | +5.80% |
| Polygon | Leading secondary share | Near flat |
| Base | $1.95 million | +29.82% |
| Bitcoin | Lower ranking | Prior sharp drops |
Industry voices have emphasized selectivity. “Collectors are focusing on assets that have demonstrated staying power or tangible utility rather than pure speculative momentum,” noted a commentator referencing the sustained activity in physical-backed collections and blue-chip floors. OpenSea and remaining venues continue to facilitate trades, while newer or chain-specific platforms capture niche flows on networks such as Base and Solana. Broader crypto conditions, including Ethereum’s price action and overall market capitalization, remain relevant because most high-value NFT trades are still denominated in ETH or stablecoins.
Looking at the longer arc, monthly NFT sales in 2026 have frequently landed below $300 million after the early part of the year, according to CryptoSlam historical series, compared with multi-billion-dollar months at the cycle peak. Forecasts from research firms have projected eventual growth in the wider digital-asset collectibles space driven by brand adoption, gaming integration, and real-world asset tokenization, yet near-term data show no immediate reversal of the post-2022 decline. Individual high-value sales, such as rare CryptoPunks or specific utility NFTs, continue to occur and draw attention, but they represent a smaller fraction of overall activity than during the boom years.
On this November 10 snapshot, the NFT market thus presents a picture of selective activity within a structurally smaller landscape: Ethereum still leads, tokenized cards and established collections generate the bulk of volume, participation metrics show resilience in address counts, and major platforms continue to adjust to lower liquidity. Traders and collectors monitor floor prices on sites such as CoinGecko and on-chain data, while the impending Blur frontend change adds a near-term operational note for users of that venue. The data underscore a market that has not returned to earlier highs but continues to clear transactions across multiple chains and asset types.
Disclaimer: This article is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or trading advice. The NFT market is highly volatile, and past performance is not indicative of future results. Readers should conduct their own research and consult qualified professionals before making any decisions related to digital assets. The cover image for this article may have been created using artificial intelligence (AI).