The worldwide non-fungible token market is experiencing yet 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 carried out 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 general NFT exercise has decreased steadily, with few spikes and a flat buying and selling sample throughout varied NFT marketplaces. The NFT market share has turn into more and more concentrated, with OpenSea and Blur accounting for almost all of whole buying and selling quantity, whereas smaller NFT platforms are dropping relevance.
Up to now 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 full 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 allows customers to purchase, promote, mint, and commerce digital property 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.
Then again, the main NFT assortment have seen their flooring value 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 value decline by 30% to 0.59 ETH. Lil Pudgy is the second most impacted NFT, with its NFT flooring value 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 value fall. Up to now 30 days, the Moonbirds NFT flooring value has shrunk by 21% to 1.45 ETH. Different NFT collections which have seen their flooring value 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 value worth plunge by +20% in December 2025. In comparison with different months, many NFTs are positively dropping momentum, and they’re not on the middle of the highlight. It’s true that the NFT market will not be useless. However the place have NFT merchants shifted their consideration to?
NFT Merchants Have Shifted To Memecoins
Information from CoinMarketCap exhibits 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 robust each day buying and selling exercise. Most 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 put up excessive quantity regardless of smaller market caps. They’re ceaselessly traded somewhat than held long-term. Furthermore, low transaction charges and quick settlement make it simpler for merchants to enter and exit positions shortly. This retains exercise elevated. This may increasingly have been what led to the short consideration from NFTs. Merchants are searching for markets that permit them to maneuver shortly and step away with quick features as shortly as doable.
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