Ethereum News Today: NFT Market Surges on 590% CryptoPunks Jump $221M Sales 94% Cap Increase

The NFT market experienced a dramatic resurgence in July 2025, with trading volumes and market capitalization surging as blue-chip collections like CryptoPunks drove renewed investor interest. Total NFT sales reached $221 million during the month, a 40% week-on-week increase, while the overall market capitalization climbed to $7 billion—a 94% jump from previous levels. CryptoPunks, the iconic 2017-launched NFT series, emerged as the market’s focal point, with their floor price surpassing $200,000 for the first time since mid-2024. This milestone marked a 15.9% rise within 24 hours on July 22, accompanied by 83 new purchases in a single day [2]. The collection’s value surged 590% month-on-month, reinforcing its status as the most sought-after digital asset in the NFT space [1].

The market’s revival was further amplified by increased activity across other high-profile projects. Pudgy Penguins outperformed the Bored Ape Yacht Club in market capitalization, while Ethereum-related NFT sales alone approached $160 million in the week ending July 28 [5]. OpenSea and other platforms reported a 18% weekly increase in trading volume, driven by cross-chain demand for Solana and Bitcoin-based NFTs [7]. Analysts attributed the surge to speculative trading and a broader optimism around Ethereum’s dominance in NFT transactions, as ETH remained the primary settlement asset [3].

Despite the robust figures, the market’s sustainability remains a topic of debate. The 94% increase in market capitalization followed a prolonged consolidation phase, raising concerns about whether the rally is fueled by short-term speculation rather than institutional adoption. However, the sheer scale of the July rebound suggests a reawakening of NFTs as both an investment class and a cultural asset. DappRadar analysts noted that “the NFT market hasn’t seen this level of energy in months,” drawing parallels to past booms while cautioning about potential regulatory adjustments [4].

CryptoPunks’ resurgence highlights the enduring appeal of early NFT projects. Their floor price crossing $200,000 not only reflects renewed liquidity but also cements their role as a benchmark for NFT valuation. Collectors and traders view the collection as a “safe haven” within the broader market, which has historically experienced volatility [2]. The performance of other blue-chip collections, such as f(x) wstETH, further underscores a shift in investor strategies toward established projects.

Looking ahead, the market’s trajectory will likely hinge on regulatory clarity and technological advancements, particularly Ethereum’s ongoing upgrades. While the July data paints a picture of a market in revival, the balance between speculative momentum and long-term adoption will remain critical. For now, CryptoPunks and their peers have reasserted their dominance, signaling a renewed phase of growth for the NFT sector.

Sources:

[1] [NFT sales skyrocket 40% to $221m, CryptoPunks jump 590%] (https://crypto.news/nft-sales-skyrocket-40-to-221m-cryptopunks-jump-590/)

[2] [CryptoPunks NFT Floor Price Surges Past $200K] (https://blockchain.news/flashnews/cryptopunks-nft-floor-price-surges-past-200k-trading-insights-and-market-impact)

[3] [The market value has doubled, the floor price and trading ...] (https://www.panewslab.com/en/articles/9hdx7t2n)

[4] [Top NFT Activity Of The Week: CryptoPunks And Pudgy ...] (https://blockchainreporter.net/top-nft-activity-of-the-week-cryptopunks-and-pudgy-penguins-secure-top-positions/)

[5] [Ethereum NFT Sales Near $160 Million in Recent Week] (https://www.binance.com/en/square/post/27510488967850)

[7] [Live Best Meme Coins Updates Today] (https://bitcoinist.com/meme-coins-live-news-july-28-2025/)