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NFT Volume Plummets to 2025 Lows After OpenSea Pauses Incentives

NFT marketplace trading volumes are down 73% since OpenSea removed incentivized listing and bidding.
By: Squiffs • March 07, 2025
NFT Volume Plummets to 2025 Lows After OpenSea Pauses Incentives

The NFT market’s woes continue as marketplaces struggle to regain their post-election volume levels, with a noticeable drop off after OpenSea temporarily removed bidding and listing points on its platform.

The cumulative Ethereum NFT market processed just $5.7 million on March 5, despite recording between $20 million and $30 million per day while volume incentives were live, and regularly trading between $15 million and $50 million per day in December.

NFT Market Volume chart
NFT Market Volume - Dune Analytics

OpenSea plans to reintroduce incentivized volume in its OS2 campaign, but has not clarified a timeline since it rescinded volume-based points on Feb. 18.

Despite the dropoff in volume, the floor prices of premier NFT collections are holding up relatively well. Cryptopunks currently trade at 38 ETH ($83,000), Pudgy Penguins for 9.8 ETH ($20,000), and the Bored Ape Yacht Club trades at 13.4 ETH ($28,000).

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