<p><img src="https://images.cointelegraph.com/images/528_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjYtMDIvMDE5YzMyYWItODQxMC03NGIyLTk5MzItMzI5Y2ZmZWRiNmU0LmpwZw==.jpg" alt="NFT market cap slides back to 2021 pre-hype levels, near $1.5B" class="type:primaryImage"></p><p>NFT minting expanded in 2025 even as sales fell sharply, leaving more tokens chasing fewer buyers.</p>