Nike Sells RTFKT as NFT Market Cap Plummets Over 67%
- Strategic Exit: Nike sold its digital products unit RTFKT in December 2025 after announcing plans to end Web3 services and pause NFT drops, reflecting the company's response to the sharp decline in the NFT market.
- Sales Decline: Concurrently, Nike's Converse brand reported a 30% sales drop in Q4 2025, prompting analysts to speculate about potential further portfolio cuts, although the company has not confirmed any such plans.
- Deteriorating Market Conditions: The NFT market cap has fallen over 67% in the past year, leading major platforms like OpenSea and X2Y2 to adjust their business models, with OpenSea shifting from an NFT-exclusive focus to a broader trading model, highlighting the challenging market environment.
- Event Cancellations: Major industry events, including NFT Paris, were canceled in February 2026 due to poor market conditions, further reflecting the challenges and uncertainties facing the NFT sector.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR) As of , Major (MAJOR) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0609 | 0.0686 | 0.0777 | 0.0855 | 0.0946 | 0.102 | 0.111 |
| Fibonacci | 0.0686 | 0.0751 | 0.079 | 0.0855 | 0.0919 | 0.0959 | 0.102 |
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