NFT Market Shows Signs of Recovery With 30% Sales Jump in Early January 2026

Trading Volume Surges After Months of Decline

The global non-fungible token market demonstrated early signs of recovery in January 2026, with trading sales volume reaching $85 million during the first week of the month, representing an increase of over 30% from the previous week ^[2]. This surge potentially marks the end of a three-month downward trend that has significantly impacted the industry.

The NFT market had experienced a severe winter beginning in November 2025, resulting in a 60% decline from its peak in January 2025 ^[1]. The recent uptick in trading activity offers a glimmer of hope for an industry that has struggled throughout the latter months of 2025.

Bitcoin Leads Blockchain Trading Activity

Bitcoin-based NFT collections emerged as the most-traded blockchain network during the first week of January, generating $31 million in trading sales volume—a remarkable 185% increase from the previous week ^[2]. The Bitcoin network hosts popular collections including Runes, BRC-20, and Ordinal series.

Ethereum, which hosts the majority of NFT collections globally, ranked second with over $28 million in trading volume, representing a 37% increase week-over-week ^[2]. BNB Chain secured third place with $6.3 million in sales, while Immutable and Solana rounded out the top five with $3.4 million and $3.1 million respectively ^[2].

Top-Performing Collections

The $X@AI BRC-20 NFT collection led all series during the week, recording $24 million in trading sales volume—an extraordinary 1,170% surge from the previous week ^[2]. The collection operates on the Bitcoin blockchain using the BRC-20 protocol.

CryptoPunks, the iconic collection of 10,000 pixelated NFTs now managed by the Infinite Node Foundation, claimed second place with $3.9 million in sales, up 51% from the prior week ^[2]. Pudgy Penguins, featuring 8,888 penguin cartoons on Ethereum, generated $2.7 million in trading volume, marking a 50% increase ^[2].

Major Conference Cancellation Reflects Market Struggles

Despite the positive trading data, the NFT industry continues to face significant challenges. NFT Paris, organizers of Europe's premier annual web3 and NFT conference, announced on January 5 that it had cancelled its highly anticipated 2026 event ^[1].

"After four editions that brought together the global Web3 community in Paris, we must face reality: NFT Paris 2026 will not take place. The market crash has hit us hard. Despite drastic cost reductions and months of effort to organize the event, we were unable to make it happen this year," the organizers stated ^[1].

The conference, which previously attracted over 20,000 visitors and featured more than 400 speakers at the Grand Palais Éphémère, was scheduled for February 5-6 at the Grande Halle de la Villette ^[1]. Several parallel events including RWA Paris, Ordinals Paris, and XYZ Paris were also cancelled ^[1].

Market Outlook

Industry analysts project cautious optimism for the NFT sector. While the market is not expected to reach the frenzied heights of 2021 and 2022, experts predict a possible bull run before the end of 2026, driven by enterprise adoption and technological integration ^[2]. The NFT market is projected to reach $231.98 billion by 2030, growing at a compound annual growth rate of over 33% from 2026 ^[2].

NFT Paris organizers promised to refund ticket holders within 15 days and apologized to attendees who had already made travel arrangements ^[1].