NFT Market Surges 21.2% as Top Collections Gain 15.9% to 1280%

A significant surge in the non-fungible token (NFT) market has been observed, driven by a substantial single-day "sweep" of blue-chip NFTs on Sunday. This rally was supported by a broader crypto market uptick, leading to notable increases in the floor prices of top NFT collections.

The largest NFT collection by market cap, CryptoPunks, saw its floor price jump by 15.9%, rising from 40.9 Ether (ETH) to 47.50 ETH, equivalent to over $179,000. This surge resulted in 83 of these NFTs being acquired by new holders within a single day. Similarly, Pudgy Penguins, the second-largest collection by market cap, experienced a 15% increase, with its floor price reaching 16.60 Ether, or $62,597. This collection also saw 100 new holders acquiring the NFTs on Sunday. The Infinex Patrons NFT collection, which grants holders governance voting power over the Infinex protocol, rounded out the top three with a 9.4% increase, bringing its floor price to 1.4 Ether, worth $5241.

Other notable collections also registered significant gains. The YOU THE REAL MVP collection, which serves as the premium membership of the Memeland ecosystem, led the pack with a staggering 1280% gain. This surge indicates a broader resurgence in the NFT market, which has seen its market cap jump 21.2% in the last 24 hours to over $6.34 billion. The total sales volume also increased by 303% to $38.7 million on the day.

This recent surge contrasts sharply with the market's performance just months ago. In April, it was reported that NFT volumes had plunged 61% in the first quarter of 2025 to $1.5 billion. Last year was marked as the market’s worst year for NFT trading volume and sales since 2020, a period characterized by volatility and rising token prices.

The current market dynamics have sparked speculation among users that the NFT market is experiencing a comeback after years of decline following the highs of the 2021 cycle. Community members and investors have expressed optimism, with some suggesting that the surge might indicate a renewed interest in NFTs. Digital artist Mike Winkelmann, known as Beeple, commemorated the price boom with a new artwork titled "Big Sweep," further highlighting the market's resurgence.

Experts had previously predicted an NFT rebound, albeit with a more tempered outlook. CryptoSlam strategist Yehudah Petscher had suggested in May that the NFT market was poised for a rebound, though not to the heights of its previous highs. DappRadar analyst Sara Gherghelas also noted in a May report that the sector has the potential to make a comeback, but needs new catalysts to fully rebound. Real-world assets were cited as a possible catalyst for this resurgence. Additionally, the sale of almost 1,000 NFTs by American rapper Snoop Dogg in just 30 minutes on Telegram further fueled discussions about a possible market resurgence.