Binance gives NFT holders 1 month as $23B market collapses

- Binance to shut down NFT trading on centralized exchange by early July - Industry-wide NFT volumes sink from $24 billion peak to about $1.2 billion On June 4, 2026, Cryptopolitan reported that Binance will end all NFT support on its centralized exchange. The outlet stated that the exchange will give users until July 3, 2026, to move assets or risk permanent loss as a $23 billion market faces collapse. This decisive step from one of the industry’s largest exchanges comes amid sharply declining NFT activity and increased pressure on platforms to streamline services. According to Cryptopolitan on June 4, 2026, Binance’s withdrawal mirrors recent decisions by Nifty Gateway and Kraken NFT, which both exited the NFT space after trading volumes plummeted. Market data cited by the outlet shows NFT transactions have fallen dramatically from a peak of $24 billion in 2022 to about $1.2 billion in 2026. As a result, the downturn has rippled across the industry, prompting high-profile event cancellations such as NFT Paris 2026 and leaving some sponsors without reimbursement, while stakeholders now scramble to adapt to lower participation and shrinking revenue.