The non-fungible token (NFT) market is showing early signs of recovery following a major sell-off that erased roughly $1.2 billion in market value during last week’s cryptocurrency crash.

Data from CoinGecko revealed that the total NFT market capitalization dropped from $6.2 billion to $5 billion between Friday and Saturday, marking a decline of nearly 20%. However, as the broader crypto market began to rebound, NFTs partially recovered to around $5.5 billion on Sunday and are now hovering close to $5.4 billion.

NFT market reacts to broader crypto volatility

The sharp correction highlighted just how closely NFT prices remain tied to overall crypto market trends. As Bitcoin and other major tokens fell sharply following new tariff threats from U.S. President Donald Trump, NFT floor prices plunged as liquidity thinned and speculative trading slowed.

Despite this, the partial rebound over the weekend suggests that investor confidence is gradually returning as markets stabilize.

Top collections still in the red

While the market as a whole is stabilizing, many of the top NFT projects continue to post losses. Ethereum-based collections like Bored Ape Yacht Club (BAYC) and Pudgy Penguins are still down 10.2% and 21.4%, respectively, over the past week. Other well-known projects such as Infinex Patrons and Fidenza by Tyler Hobbs also recorded double-digit monthly losses.

Even CryptoPunks, the most valuable NFT collection by market capitalization, declined by 8% over the past week and nearly 5% over the last 30 days. However, smaller gains were seen among collections like Hyperliquid’s Hypurr NFTs (+2.8%) and Mutant Ape Yacht Club (MAYC) (+1.5%), hinting that some buyers may be selectively re-entering the market.

Broader crypto markets recover

The NFT rebound mirrors the broader recovery across digital assets. Bitcoin dropped to $102,000 on Friday after Trump’s announcement of 100% tariffs on Chinese goods, triggering one of the largest liquidation events in crypto history, with $20 billion wiped out. Over the same weekend, the total crypto market cap fell from $4.24 trillion to $3.78 trillion, before bouncing back to around $3.94 trillion at the time of writing.

Despite the volatility, institutional demand appears to remain intact. CoinShares reported that crypto exchange-traded products (ETPs) saw $3.17 billion in inflows last week — even amid the flash crash — suggesting that long-term investors are maintaining confidence in the digital asset market despite short-term turbulence.

Overall, the NFT market’s ability to rebound quickly following heavy losses underscores its growing resilience, even as it remains tightly linked to the performance of the broader crypto ecosystem.

Sources:

https://cointelegraph.com/news/nft-market-rebound-after-1-2b-wipeout-crypto-crash

https://www.coingecko.com/en/nft/global-stats#nft-market-chart

https://www.coingecko.com/en/charts