- NFT market shows cautious recovery, hovering near $2.5B support level.
- CryptoPunks dominate, maintaining 22.7% of market cap amid consolidation.
- Market heatmap reveals mixed sentiment, with major collections seeing slight dips.
The global NFT market is currently navigating a phase of consolidation, following a sharp decline from its December 2024 highs. Valued at $3.52 billion, the market has posted a modest 3.48% gain in the past 24 hours. This uptick, while not groundbreaking, reflects a cautious optimism emerging in the space.
Daily sales volume has reached $5.05 million, indicating ongoing activity despite broader market hesitation. As the market hovers near its long-term support level of $2.5 billion, investors are watching closely for signals of a stronger recovery.
Market Trends Show Cautious Stabilization
Since peaking near $12.5 billion in late December, the NFT market has faced persistent selling pressure. The early months of 2025 were marked by repeated failed rallies and declining confidence. By late March, the market bottomed out around $2.5 billion, forming a critical support level that has since held firm.
April has offered signs of slight recovery, with prices climbing gradually. However, resistance at $7.5 billion remains a major hurdle. The trend of lower highs and lower lows continues to dominate, suggesting the market is not yet out of its bearish cycle. A meaningful breakout above $5 billion, supported by sustained volume, would be necessary to shift the sentiment.
Dominance Reflects Market Consolidation
In terms of collection dominance, CryptoPunks continues to lead, holding 22.7% of the total market cap. Over the last three months, the top NFT collection has consistently commanded over 50% of the dominance among leading projects. This signals a high level of market consolidation, with few new projects gaining significant ground.
Resistance for the top collection appears near the 60% dominance level, while support for all other collections rests around 40–45%. There were notable shifts in leadership dominance on February 24 and April 21. These changes could point to bursts in volume or temporary revaluations, though the overall structure remains stable.
Heatmap Reveals Mixed Sentiment
The NFT market heatmap provides further insight into current sentiment. Collections like CryptoPunks and Autoglyphs showed no price movement over the past day. Others, including Bored Ape Yacht Club and Infinex Patrons, dipped slightly by 0.07%. Pudgy Penguins saw a sharper decline of 1.56%, reflecting broader volatility.
