According to @KookCapitalLLC, Coinbase paid $25 million for an NFT, which brings 2025 year-to-date NFT trading volume to $25.3 million (source: @KookCapitalLLC on X, Oct 20, 2025). Based on these figures, a single purchase would represent roughly 98.8% of the reported 2025 NFT volume, indicating highly concentrated flow and thin liquidity that traders should factor into execution and pricing (source: @KookCapitalLLC on X, Oct 20, 2025). The post did not specify the NFT collection, blockchain network, or provide an on-chain reference, and no independent confirmation was included in the post (source: @KookCapitalLLC on X, Oct 20, 2025).