NFT Market Rebounds After $1.2B Wipeout in Friday’s Crypto Crash
The NFT market experienced a significant decline during the recent crypto crash, losing about $1.2 billion in market capitalization as its value fell from $6.2 billion to $5 billion between Friday and Saturday. By Sunday, the sector had partially recovered to $5.5 billion, demonstrating a 10% rebound, and currently sits near $5.4 billion. The downturn exposed the NFT sector's high sensitivity to broader crypto market volatility, with top collections such as Bored Ape Yacht Club and Pudgy Penguins still down 10–21% over the week. CryptoPunks also fell 8% weekly and 5% over 30 days. Despite these declines, some collections, like Hyperliquid’s Hypurr NFTs and Mutant Ape Yacht Club, posted modest daily gains, suggesting selective buyer activity. The overall crypto sector suffered a dramatic drop in capitalization from $4.24 trillion to $3.78 trillion, then partially rebounded to about $3.94 trillion. Nevertheless, crypto investment products saw robust inflows, with $3.17 billion entering ETPs last week, underscoring investor resilience amid volatility and liquidations.
