Ethereum News Today: NFT Market Capitalization Surges 22% in One Day Driven by Blue-Chip Collections

Generated by AI AgentCoin World
Monday, Jul 21, 2025 5:35 am ET1min read
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Aime RobotAime Summary

- NFT market cap surged 22% to $6.4B on July 21, 2025, driven by blue-chip collections like CryptoPunks and Pudgy Penguins.

- CryptoPunks' floor price jumped 16% to $179,000, while whale activity boosted trading volumes to a six-month high of $42.7M.

- Ethereum and Bitcoin's multi-month highs fueled optimism, with market observers labeling it the start of an "NFT bull market."

- Despite the rebound, active buyers remain 52% below peak levels, leaving uncertainty about whether this is a lasting recovery or temporary spike.

The NFT market experienced a significant resurgence on July 21, 2025, with its total market capitalization jumping over 22% in a single day, rising from $5.1 billion to approximately $6.4 billion. This surge was driven by renewed interest in digital collectibles, with blue-chip collections such as CryptoPunks, Pudgy Penguins, and Moonbirds leading the charge.

CryptoPunks saw its floor price surge nearly 16% to 47.5 ETH, or roughly $179,000, as several new buyers scooped up pieces from the iconic collection. Pudgy Penguins wasn’t far behind, climbing 15% to a floor of 16.75 ETH, around $63,500. Other top performers included Moonbirds and Lil Pudgys, delivering sharp 34% and 17% jumps to 1.94 ETH and 1.78 ETH respectively.

The combined spike in activity sent NFT trading volumes to a six-month high. Daily trading shot up 344% to $42.7 million, signaling that momentum is returning to the sector after a prolonged period of sluggish action.

One key driver of the NFT market surge is the return of whale activity. A newly created whale wallet spent 2,082 ETH (around $5.7 million) to acquire 45 CryptoPunks within hours. This large-scale sweep sent the collection’s floor price climbing and triggered broader market excitement.

The NFT rally also ties into the wider crypto uptrend.

Ethereum
(ETH) is trading over $3,800, hitting multi-month highs after a steady weeks-long climb.
Bitcoin
(BTC) is holding above $119,000, leading the bullish sentiment across digital assets.

Market watchers are already calling “NFT season.” Echoing broader market sentiment, one user described the surge as the start of an incoming “NFT bull market.” Another added, “NFTs are moving like there are NFT treasury vehicles on the horizon,” pointing to the ongoing trend of reserve strategies driving Bitcoin and Ethereum to new highs.

Despite the rebound, the broader NFT market remains far from its peak. Data shows active NFT buyers are still down 52%, while global transactions have dropped 11.6%. Whether this rally marks the start of a lasting comeback or just a temporary spike remains to be seen.