Ethereum News Today: NFT Market Cap Surges 94% to $6.6B in July as CryptoPunks Lead Recovery

The NFT market experienced a significant upturn in July, with the total market capitalization reaching $6.6 billion, according to DappRadar. This represents a 94% increase compared to June 2025 and follows a period of sustained quarterly declines in trading volumes. Weekly trading activity also showed a 51% rise from the prior week, hitting $136 million—the highest level since February 2025. The resurgence highlights renewed investor confidence in digital collectibles, driven by strong performance in high-profile collections and on-chain activity [1].

Ethereum-based NFTs dominated the recovery, led by the CryptoPunks collection. The floor price for CryptoPunks surged 53% in July, with a notable 15.9% jump on July 21 alone, when the collection’s floor price reached 47.5 ETH (approximately $180,000). The same day saw 83 new holders acquire CryptoPunks, underscoring the collection’s enduring appeal. DappRadar analyst Sara Gherghelas noted that ownership of CryptoPunks has become a symbol of status in the Web3 community, transcending mere financial incentives [1]. A recent high-profile sale further exemplified this trend: GameSquare Holdings acquired the iconic Cowboy Ape CryptoPunk (5577) for $5.15 million in preferred stock, marking the second-highest price for a CryptoPunk since its $7.7 million sale in 2022. The asset’s previous owner, DeFi protocol founder Robert Leshner, will now join GameSquare as a shareholder [1].

While CryptoPunks maintained dominance in on-chain trading activity, other collections also contributed to July’s growth. Pudgy Penguins briefly outperformed CryptoPunks in seven-day trading volume, exceeding $20 million, before the Ethereum-based CryptoPunks reclaimed the top spot. Additionally, the CryptoBatz collection saw a 400% surge in value following the July 23 announcement of heavy metal icon Ozzy Osbourne’s death, illustrating the impact of cultural relevance on NFT demand [1].

The July figures contrast with the broader crypto market, where Bitcoin and Ethereum have struggled to break key resistance levels. Analysts attribute the NFT sector’s resilience to its unique positioning as an asset class tied to digital ownership and provenance, rather than macroeconomic factors. DappRadar emphasized that the market’s health is increasingly measured by consistent on-chain activity—average daily trading volume stabilized at $450 million in the latter half of July—rather than isolated high-profile sales [1].

Despite the gains, the $6.6 billion valuation remains below the $18 billion peak seen in 2021, reflecting a more cautious market environment. However, the July surge suggests a shift toward sustainable growth, with developers focusing on utility-driven NFTs and platforms enhancing security protocols to rebuild trust. The divergence between NFTs and the broader crypto market also highlights the sector’s insulating factors, including institutional interest in digital collectibles and metaverse-related assets [1].

Source: [1] [NFT Market Cap Hits $6.6B in July as CryptoPunks Surge] [https://cointelegraph.com/news/nft-market-cap-6b-cryptopunks-surge]