Buyers are dashing again into non-fungible tokens (NFTs) after a large single-day “sweep” of blue-chip NFTs on Sunday, propped up by a crypto market rally.
CoinGecko information reveals the most important NFT assortment by market cap, CryptoPunks, skilled a 15.9% spike in its ground value from 40.9 Ether (ETH) to 47.50 ETH, value over $179,000, with 83 of the NFTs snapped up by new holders in solely a single day.
Pudgy Penguins, the second-largest assortment by market cap, has spiked over 15% to 16.60 Ether ($62,597), with 100 new holders “sweeping” up the NFTs on Sunday.
Rounding out the highest three largest collections, the Infinex Patrons NFT assortment, which grants holders governance voting energy over the Infinex protocol, went up 9.4% to 1.4 Ether, value $5241.
Different collections additionally registered enormous beneficial properties, with the You The Actual MVP assortment, which supplies holders membership within the Memeland ecosystem, main the pack with a 1280% acquire.
Broader NFT market on the rise
The broader NFT market cap has additionally jumped 21.2% within the final 24 hours to over $6.34 billion, whereas the full gross sales quantity can be up 303% to $38.7 million on the day, in line with CoinGecko.
It’s a large change from simply months in the past, when Cointelegraph reported in April that NFT volumes plunged 61% within the first quarter of 2025 to $1.5 billion.
Final 12 months was flagged because the market’s worst 12 months for NFT buying and selling quantity and gross sales since 2020, which was marred by volatility and rising token costs.
NFTs stage comeback
Customers on X speculate that the surge is likely to be an indication that the NFT market is again on the rise after years of decline following the highs of the 2021 cycle.
NFT neighborhood member “Cirrus” mentioned in a X put up on Sunday that they “noticed somebody purchase a ground mutant and instantly change their bio to full-time Web3 adviser/guide. We would truly be again.”
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Investor and former banker Tyler Warner, who posts on X below the deal with TylerD, mentioned he thinks “plenty of you’re underestimating how a lot the 2021 class loves NFTs.”
Blockworks co-founder Jason Yanowitz additionally mentioned NFTs are “shifting like there are NFT treasury autos on the horizon.”
Digital artist Mike Winkelmann, often known as Beeple, who bought the NFT “Everydays: The First 5000 Days” for $69 million in 2021, commemorated the worth growth with a brand new art work he seemingly named “Large Sweep.”
Consultants had been predicting an NFT rebound
CryptoSlam strategist Yehudah Petscher informed Cointelegraph in Could he thought the NFT market was poised for a rebound, however with a extra tempered outlook than its earlier highs.
DappRadar analyst Sara Gherghelas additionally mentioned in a Could report that the sector has the potential to make a comeback, however wants new catalysts to completely rebound, pointing to real-world belongings as a attainable catalyst.
On July 9, American rapper Snoop Dogg bought out a group of virtually 1,000 NFTs on Telegram in half-hour, which additionally sparked discussions a couple of attainable market resurgence.
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