Ethereum News Today: NFT Market Cap Surges 94% to $6.6B in July Driven by CryptoPunks Rally

The non-fungible token (NFT) market has experienced a notable resurgence, with the sector’s total market capitalization reaching $6.6 billion in July, according to DappRadar. This marks a 94% increase from the previous month and follows a period of declining quarterly trading volumes, which had seen a consistent drop from the second quarter of 2024 to the second quarter of 2025 [1]. Weekly trading volume also surged to $136 million in July, reflecting a 51% rise compared to the prior week. This figure represents the strongest weekly performance since February 2025 [1].

The Ethereum-based CryptoPunks collection has emerged as a key driver of this growth, with its floor prices rising 53% since June. On July 21, the collection recorded a 15.9% jump in floor prices within 24 hours, reaching 47.50 Ether (ETH), equivalent to nearly $180,000 [1]. DappRadar analyst Sara Gherghelas noted that CryptoPunks retain their status as a "gold standard" in the Web3 space, emphasizing their role as symbols of prestige rather than purely speculative assets [1].

A high-profile sale further underscored the collection’s influence: GameSquare Holdings acquired Punk 5577, a rare cowboy-themed Ape CryptoPunk, for $5.15 million in preferred stock. Previously owned by DeFi protocol founder Robert Leshner, the NFT was first sold for $454 in 2017 and fetched $7.7 million in February 2022 [1]. The acquisition highlights the ongoing demand for iconic, early NFTs and their cultural capital.

While CryptoPunks dominated trading activity, other Ethereum-based collections also saw gains. Pudgy Penguins briefly surpassed CryptoPunks in seven-day trading volume, recording over $20 million. However, CryptoPunks reclaimed the top spot by the end of the reporting period [1]. Meanwhile, the CryptoBatz collection surged by 400% following the July 23 announcement of heavy metal icon Ozzy Osbourne’s death, illustrating how real-world events can drive NFT market dynamics [1].

The data underscores a broader trend of renewed interest in NFTs after months of subdued activity. The July figures suggest a potential stabilization in the market, though sustained growth will depend on factors such as platform innovation, regulatory clarity, and macroeconomic conditions. For now, the revival of high-value NFTs like CryptoPunks and the responsiveness of niche collections to cultural events indicate that the sector remains a significant component of the digital asset ecosystem.

Source: [1] [NFT market cap surged to $6.6B in July: DappRadar] [https://coinmarketcap.com/community/articles/68834c3932b65702e7fcfed5/]