NFT Market Faces Drop, But Base Chain Surges Nearly 300%

• NFT sales in January 2025 dropped by 38.97%, but Base defied the trend with a 293.19% surge.
• Azuki and Milady Maker led NFT collections, showing strong trading volume growth and increasing community engagement.

The NFT market appears to have begun 2025 on a rocky note. Reflecting the continuous industry downturn, overall sales dropped 38.97% month-on- month. With $340.47 million in total transactions, Ethereum still leads; second place goes to Bitcoin. But throughout this downturn, one network surprised me much by truly seeing an amazing increase.

📉 NFT Sales Plunge 38.97% in January 2025—But One Chain Defies the Trend!

• Total sales: $677.74M
• Ethereum leads with $340.47M, followed by Bitcoin
• Base surges 293.19%, the only chain posting gains.
• Azuki dominates collections with a 41.92% rise
• CryptoPunks claims… pic.twitter.com/YhGuICduUr

— The Keepers (@TheKeepersNFT) February 1, 2025

Base Goes Against the Tide, Up Nearly 300%

While practically other NFT networks saw a drop, the Base network actually saw a 293.19% sales increase. Clearly, this is not a number one could overlook. The main causes of this explosion seem to be the increased user base and rising acceptance.

On the other hand, the growing interest in NFTs on other platforms would indicate that investors are beginning to search for prospects outside of the main networks such as Ethereum and Bitcoin.

Leading the Best-selling Collections are Azuki and Milady Maker

Not just the Base network is drawing interest, several NFT collections also exhibit remarkable performance. According to our prior report, Azuki saw a 106% jump in trade volume last week, reaching $29.3 million. With 4,872 unique owners, it remains popular with a 9.88 ETH floor price.

Milady Maker saw a massive 891% surge in trading volume, reaching 277.70 ETH (about $921,620) daily. New investors are taking notice, and the collection now has 5,414 unique owners with a 6.25 ETH floor price.

Ethereum Still Leading, But How Long?

Though Ethereum still leads in NFT transactions, this dominance is beginning to fade. Almost all of the significant collections on this network show a drop that suggests investor changing interests.

Given alternative networks like Base still provide competitive benefits in transaction prices and network speeds, some experts believe this trend could continue.

Some Not Made It

Not every NFT project has survived in this tough market. Take the Australian Open’s Artball program—its value dropped 90%, showing how weak communities struggle to last.

With these different patterns, the NFT market appears to be still looking for a clearer path towards 2025. While some collections and networks are beginning to lose attractiveness, others have been able to stand out in spite of slow market conditions.