The non-fungible token (NFT) market is displaying indicators of a resurgence, because the sector’s whole market capitalization reached $6.6 billion in July, in accordance with the information platform DappRadar.
The platform reported Thursday that the determine represents a 94% improve from the earlier month. Weekly buying and selling quantity additionally surged to $136 million, up 51% from the prior week, marking the strongest weekly efficiency since February.
The surge additionally follows a steady decline in quarterly buying and selling volumes. On July 10, DappRadar knowledge confirmed that NFT buying and selling volumes went down persistently from the second quarter of 2024 to the second quarter of 2025.
CryptoPunks lead resurgence as NFT sells for over $5 million
Ethereum-based NFT assortment CryptoPunks has led the resurgence of digital collectibles. In line with DappRadar, CryptoPunk ground costs have jumped 53%. Moreover, the gathering stays essentially the most actively traded amongst all NFTs.
“They’re nonetheless the gold customary of Web3 clout,” DappRadar analyst Sara Gherghelas wrote. “For some, proudly owning a Punk is about greater than revenue — it’s standing, pure and easy. And proper now, that standing is trending.”
On July 21, CryptoPunks recorded a large bounce in ground costs. The gathering went to a 47.50 Ether (ETH) ground value, price almost $180,000 in 24 hours.
This represents a 15.9% improve from its beginning ground value of 40.9 ETH throughout that day. As well as, knowledge confirmed that 83 CryptoPunks have been purchased by new holders that day.
Aside from its ground value improve, high-profile CryptoPunk gross sales additionally occurred.
On Thursday, GameSquare Holdings introduced that it has bought Punk #5577, the enduring Cowboy Ape CryptoPunk, for $5.15 million of the corporate’s most well-liked inventory.
The Punk’s earlier proprietor, Robert Leshner, the founding father of DeFi protocol Compound, will now work with GameSquare as a shareholder.
The CryptoPunk is among the solely 24 ape-themed Punks and has a cowboy hat. It was first claimed in 2017 and was first offered for $454. It was offered for $7.7 million on Feb. 9, 2022, in accordance with the CryptoPunks web site.
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Ethereum NFTs dominate rankings
Aside from CryptoPunks, penguin-themed assortment Pudgy Penguins can be on the rise.
Final week, Pudgy Penguins surpassed CryptoPunks’ seven-day buying and selling quantity, recording over $20 million. Nevertheless, on the time of writing, CryptoPunks regained the highest 1 spot, placing Pudgy Penguins in second place.
In the meantime, one other Ethereum-based assortment surged after its creator, the heavy metallic icon Ozzy Osbourne, died. On July 23, CryptoBatz NFTs surged by 400% after information that Osbourne had died reached NFT collectors.
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