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Home » NFT » NFT Market Slips in May Despite Buyer Growth and Gains From Bitcoin, Avalanche
NFT

NFT Market Slips in May Despite Buyer Growth and Gains From Bitcoin, Avalanche

Crypto Observer StaffBy Crypto Observer StaffJune 2, 2025No Comments2 Mins Read
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Based on the most recent figures, non-fungible tokens (NFTs) generated approximately $474 million in sales throughout May, marking a 21.25% decline compared to April’s total.

NFT Market Declines in May

NFT sales maintained their downward trajectory in May, with monthly figures falling short by $127.9 million compared to the prior month. Although the number of NFT buyers climbed by 16.45% and sellers edged up by 1.57%, based on data from cryptoslam.io, total sales told a different story. Ethereum-based NFTs held the lead with $140.39 million in sales, accounting for roughly 29.63% of May’s total volume.

Source: cryptoslam.io

Despite topping the charts, Ethereum NFTs posted a 20.97% drop compared to April. Bitcoin claimed second place with $74.51 million, reflecting a 20.16% increase from the prior month. Polygon followed in third with just over $73 million, although this figure represented a 47.38% fall. Avalanche posted the sharpest growth, soaring 1208.40% in May with $31.21 million in volume, largely fueled by the launch of XSY Deposit by XSY.

Top five blockchains in terms of NFT sales in May. Source: cryptoslam.io

Polygon’s Courtyard collection led all others in May, amassing $59.51 million in sales. Close behind was Dmarket from the Polkadot-based Mythos project, which brought in about $39.32 million. XSY Deposit secured third with $30.25 million. Among the top ten collections, Doodles posted the most dramatic gain, jumping 226.54% and pulling in $8.68 million during the month.

Ethereum remains the dominant chain in terms of lifetime NFT sales, standing at $45.77 billion following May’s update. Solana follows with $6.34 billion, while Bitcoin holds third with $5.4 billion. However, with BTC NFTs being a more recent addition, Bitcoin could potentially surpass the layer one chain this year if momentum continues. It trails Solana by just $940 million. Bitcoin also trails Ethereum by $40.37 billion.

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