29 Apr 2025

light mode

A Dark September for NFTs: Crash or Breather?

Is digital art in decline? NFT sales in September 2024 plummeted by 48% compared to the previous month. Is this a temporary setback or a sign of a new reality?

Is digital art in decline? NFT sales in September 2024 plummeted by 48% compared to the previous month. Is this a temporary setback or a sign of a new reality?

The NFT market is going through tough times. Even well-known collections like CryptoPunks are seeing significant drops in trading volumes.

So, what’s happening with NFTs? Has interest in digital art started to wane, or is this just a pause before the next wave of growth?

Data from CryptoSlam.io reveals that global NFT trading volume over the past 30 days reached $316 million. While this may sound impressive, it’s almost half of what it was in August.

NFT Sales Drop in September 2024Source: CryptoSlam.io

NFT Sales Drop in September 2024Source: CryptoSlam.io

Several factors likely contributed to this decline. One of the main reasons is market oversaturation, with an overwhelming number of new NFT projects that often fail to offer unique or valuable content. Other contributing factors include cryptocurrency market volatility and broader economic uncertainty.

However, there are exceptions. While many NFT collections are struggling, NodeMonkes managed to increase its sales by 21%, showing that growth is still possible, even in a challenging market.

Established projects are grappling with low liquidity, as holders are reluctant to sell their tokens at current prices—many of which were bought at the peak of the last bull market. This situation is creating a “window of opportunity” for newer projects to capture attention with fresh communities and more relevant trends, narratives, and memes.

The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.

Articles by this author
Mastercard Brings On-Chain Payments to 150M Merchants

Mastercard Brings On-Chain Payments to 150M Merchants

Mastercard’s infrastructure now supports stablecoin transactions, allowing global merchants to send and receive payments in USDC and compliant digital assets issued by Paxos.

Dmytro Psevdonimenko
Stacks Expands Bitcoin L2 Adoption Efforts in Asia and MENA

Stacks Expands Bitcoin L2 Adoption Efforts in Asia and MENA

The Stacks Foundation is taking Bitcoin L2 mainstream in Asia and the Middle East, supported by new regulatory footholds and an expanding focus on institutional engagement.

Dmytro Psevdonimenko
Tether Gold Secures Q1 Backing Audit With Over 246,000 Ounces of Physical Gold

Tether Gold Secures Q1 Backing Audit With Over 246,000 Ounces of Physical Gold

Tether Gold’s Q1 filing under El Salvador’s financial transparency rules reveals solid physical backing: 246,523 ounces of gold—more than 7.7 tons—now officially attested.

Dmytro Psevdonimenko
U.S. Federal Court Blocks Reinstatement of Tornado Cash Sanctions

U.S. Federal Court Blocks Reinstatement of Tornado Cash Sanctions

OFAC has been barred from reinstating earlier sanctions against crypto mixer Tornado Cash, marking another major win for the blockchain industry in 2025.

Anton Kryshtal
Crypto Talk on X Today: KOLs on BTC and Power Outage in Europe

Crypto Talk on X Today: KOLs on BTC and Power Outage in Europe

On April 28, a power outage hit Spain, Portugal, and parts of France. The blackout disrupted the banking system, but investor Daniel Batten says Bitcoin remained invulnerable.

Anahit Avetisyan
Meet Eric Piscini (Hashgraph): A Blockchain Leader with 25+ Years of Innovation

Meet Eric Piscini (Hashgraph): A Blockchain Leader with 25+ Years of Innovation

CEO of Hashgraph. Tech pioneer. Visionary leader. Eric Piscini’s career is a blueprint for success in blockchain and beyond. Let’s take a closer look at his journey.

Daryna Nesterenko
Crypto Talk on X Today: KOLs on PENGU, BTC Accumulation & More

Crypto Talk on X Today: KOLs on PENGU, BTC Accumulation & More

Pudgy Penguins’ native token PENGU’s 150%+ rise in the last 7 days is among the top crypto discussions on X/Twitter today.

Anahit Avetisyan
Kaia: What Happens When LINE and Kakao Merge into One Blockchain

Kaia: What Happens When LINE and Kakao Merge into One Blockchain

In just half a year, Kaia has quietly racked up 20 million transactions and drawn in over 400,000 active wallets. Built directly into Asia’s most ubiquitous messaging apps, its reach now extends to nearly 300 million users—a bold blueprint for Web3 adoption.

Vlad Vovk
What Is the Next Bitcoin-Like Investment? Key Factors to Consider

What Is the Next Bitcoin-Like Investment? Key Factors to Consider

Explore the critical factors in evaluating the next breakthrough digital asset. Learn how innovation, decentralization, security, and market trends can help spot a Bitcoin-like opportunity.

The Coinomist
What Is Open Interest in Options? Factors to Consider

What Is Open Interest in Options? Factors to Consider

A comprehensive guide on open interest in options trading, explaining its significance, how it differs from volume, and the key factors to consider when using it for strategy.

The Coinomist
ICO Meaning and Its Role in Blockchain Technology

ICO Meaning and Its Role in Blockchain Technology

ICOs let blockchain projects raise capital by selling tokens. Here’s how they work, their benefits, and the risks investors should be aware of.

The Coinomist
Crypto Whale Activity: What It Means for Your Investment Portfolio

Crypto Whale Activity: What It Means for Your Investment Portfolio

Crypto whales can move markets with a single trade. Learn how their actions affect prices—and how to adjust your investment strategy accordingly.

The Coinomist
What Are Covered Calls? Benefits and Risks

What Are Covered Calls? Benefits and Risks

Covered calls let investors earn income from stocks they already own. Learn how the strategy works, when to use it, and what risks to watch out for.

The Coinomist
Bitcoin Still Locked Below $95,000 After Multiple Rejection Points

Bitcoin Still Locked Below $95,000 After Multiple Rejection Points

Despite repeated attempts, Bitcoin remains capped just under $95K. As ETF inflows plateau, investors are left scanning the horizon for potential market triggers.

Anton Kryshtal
Bitcoin Charges Toward $95K as Bulls Strengthen Grip

Bitcoin Charges Toward $95K as Bulls Strengthen Grip

Positive investor sentiment and easing U.S. trade war tensions propel Bitcoin toward $95,000, setting the stage for a possible rally to $100,000.

Anton Kryshtal
MORE
Eternal Lines: Why Preserve Books on the Blockchain?

Eternal Lines: Why Preserve Books on the Blockchain?

As information becomes increasingly vulnerable to censorship, people are searching for new ways to preserve it reliably. One such solution is blockchain, which allows for the creation of permanent archives.

Iaroslava Kramarenko
Bitcoin Education Goes Academic: Inside the First Online Master’s Program

Bitcoin Education Goes Academic: Inside the First Online Master’s Program

You’ve heard of HODLing. Now imagine studying it. Spain’s University of the Hespérides is offering the world’s first Master’s in Bitcoin — and it’s more radical than you think.

Elina Moskovchuk
MORE