NFT market cap surged to $6.6 billion in July, up 94% month‑on‑month, led by Ethereum collections and a strong weekly volume rebound.
A CryptoPunk with a cowboy hat and a chimpanzee theme was exchanged for over $5 million in company stock.
According to DappRadar, the data platform, the non-fungible token (NFT) market’s total market capitalization reached $6.6 billion in July, indicating a potential resurgence.
On Thursday, the platform disclosed that the figure represented a 94% increase from the previous month. The weekly trading volume increased by 51% from the last week to $136 million, the highest weekly performance since February.
An uninterrupted decrease in quarterly trading volumes precipitated the surge. DappRadar data revealed on July 10 that the volume of NFT trading decreased consistently from the second quarter of 2024 to the second quarter of 2025.
Ethereum-based NFT collection CryptoPunks has led to the resurgence of NFTs, which have sold for over $5 million. According to DappRadar, the price of the CryptoPunk floor has increased by 53%. The collection continues to be the most actively traded among NFTs.
Sara Gherghelas, an analyst at DappRadar, stated that they remain the gold standard of Web3 authority. “For certain individuals, the acquisition of a Punk is not solely about financial gain; it is a symbol of status.” Currently, that status is on the rise.
CryptoPunks observed an enormous increase in floor prices on Monday. In just 24 hours, the collection reached a baseline price of 47.50 Ether, equivalent to nearly $180,000.
This represented a 15.9% increase from the initial floor price of 40.9 ETH that day. The data also indicated that new holders acquired 83 CryptoPunks that day.
High-profile CryptoPunk transactions were made in addition to the floor price increase.
GameSquare Holdings disclosed on Thursday that it had acquired Punk #5577, the renowned Cowboy Ape CryptoPunk, for $5.15 million in the company’s preferred stock.
Robert Leshner, the founder of DeFi protocol Compound and the previous proprietor of The Punk, will now serve as a shareholder in GameSquare.
The CryptoPunk is one of the 24 ape-themed Punks wearing a cowboy hat. It was initially claimed in 2017 and subsequently sold for $454. According to the CryptoPunks website, it was sold for $7.7 million on February 9, 2022.
Ethereum NFTs Dominate Rankings
Pudgy Penguins, a penguin-themed collection, was also experiencing growth in addition to CryptoPunks.
Pudgy Penguins exceeded CryptoPunks’ seven-day trading volume last week, accumulating more than $20 million. Nevertheless, CryptoPunks had reclaimed the top position at the time of writing, resulting in Pudgy Penguins being relegated to second place.
In the interim, an additional Ethereum-based collection experienced a surge in popularity following the passing of its creator, the heavy metal icon Ozzy Osbourne.
After the news of Osbourne’s passing reached NFT collectors on Wednesday, CryptoBatz NFTs experienced a 400% increase.
