Lumber's Crypto Crash: Price Falls by 34.9% Since FTX Launch

The launch of crypto-native lumber contracts on trading platforms in early 2021 seemed like a game-changer. The COVID housing boom was driving up demand for home renovation projects, and limited supply from quarantined workers and broken supply chains had caused the price of lumber to soar.

FTX launched its lumber future on May 6, 2021, and since then, the USD price of lumber has fallen by a significant 34.9%. This decline would be even worse if inflation-adjusted numbers are used, which account for the deteriorating purchasing power over half a decade.

The Bureau of Labor Statistics' seasonally-adjusted lumber index shows that the series peaked at 455.4 in May 2021 compared to 296.4 in July 2026.