The non-fungible token (NFT) sector surged to a market capitalization of greater than $9.3 billion as Ethereum-based collections elevated together with the value of Ether.
NFT information tracker NFT Value Ground confirmed on Wednesday that the general market capitalization for NFT collections had hit $9.3 billion, a 40% uptick from July. In accordance with DappRadar information, NFTs had a market capitalization of $6.6 billion final month.
Ether (ETH), which lately pushed previous the $4,000 milestone, has been a key driver behind the NFT market surge. On the time of writing, ETH traded above $4,600 and had a market capitalization of over $557 billion, in response to CoinGecko.
Since many NFTs are based mostly on the Ethereum mainnet, their gross sales and valuations are denominated in ETH. Due to this, bullish momentum of the crypto asset interprets into larger market values and elevated exercise within the NFT area. On the time of writing, the highest 10 NFT property by market cap have been Ethereum-based.
NFT market cap has surged 40% since July
CryptoPunks retains its spot as the highest NFT assortment by market capitalization. NFT Value Ground information reveals that the gathering is value a minimum of 526,900 ETH (about $2.4 billion).
Within the final seven days, CryptoPunks had nearly 4,200 ETH in quantity, value nearly $20 million. In the course of the week, the gathering had 90 whole gross sales, averaging at $217,331 per NFT.
The Bored Ape Yacht Membership (BAYC) follows CryptoPunks within the rankings with a valuation of $602 million, whereas Pudgy Penguins follows carefully with $591 million.
Associated: $8.5 million NFT gross sales surge to $574 million in July, second-highest in 2025
Pudgy Penguins added to a crypto treasury
Nonetheless, whereas BAYC leads in valuation, the Pudgy Penguins assortment tops BAYC when it comes to seven-day quantity. DefiLlama information means that Pudgy Penguins had a quantity of $8.7 million up to now week, whereas BAYC had $6.3 million.
In a Cointelegraph interview, Pudgy Penguins CEO and proprietor Luca Schnetzler (higher referred to as Luca Netz) stated the gathering’s enlargement right into a bodily toy model saved the corporate from chapter in 2022.
Since then, the gathering has been a number one NFT model, rivaling different blue-chip collections.
This week, blockchain firm BTCS Inc. stated it added three Pudgy Penguins to its company treasury.
Aside from the three collections, different prime 10 NFT collections by market cap embrace Artwork Block’s Chromie Squiggle by Snowfro, Autoglyphs, Fidenza by Tyler Hobbs, Lil Pudgys, Mutant Ape Yacht Membership (MAYC), Moonbirds and Milady Maker.
Journal: How Ethereum treasury corporations might spark ‘DeFi Summer time 2.0’
