NFT market hits $28.4B in 2025, driven by Ethereum’s surge, with CryptoPunks ($2.4B), BAYC ($755M), and Pudgy Penguins ($772.5M) leading.
NFTs experienced a surge in popularity in 2021, but they faded into obscurity. Nevertheless, the sector has been gaining momentum in recent months, and Ethereum’s recent surge has contributed to the market’s capitalization of $28.4 billion.
The market for NFTs has surpassed $28.4 billion
The NFT market capitalization has now surpassed $28.4 billion, a 40% increase from July, per CoinMarketCap data.
The primary cause of this increase is the recent surge in the price of Ethereum, which has surpassed $4,700. Numerous Ethereum-based collections have experienced an increase in value as a result. The value of NFT collections also increases when the mathematical value of ETH increases, as their price is expressed in ETH.
The most renowned collections
CryptoPunks, which maintains a market capitalization of $2.4 billion, is one of the most renowned collections. As indicated in the preceding classification, they are succeeded by the Bored Ape Yacht Club (BAYC) and the Pudgy Penguins.
The Pudgy Penguins recently surpassed the BAYC in terms of weekly volume. The penguins have a volume of $8.7 million, surpassing the primates’ $6.3 million.
Due to this pricing increase, many proprietors should be able to recoup their costs following months of decline. It is a reasonable assumption that many individuals will dispose of the NFTs acquired during the peak of the hype in 2021.
NFT activity experienced a resurgence in July, with sales of $574 million, the second-highest monthly volume of 2025, representing a 47.6% increase from June. The average selling price increased to $113, a six-month high, despite a slight decrease in transactions (5 million).
This suggests that buyers are currently focusing on more expensive NFTs. This trend fosters renewed market confidence and a potential structural shift favoring quality over quantity in conjunction with Ethereum-priced valuations.
Healthy Market Revival Indicated by Persistent Sales Momentum
July 2025 saw a significant increase in NFT activity, with total sales reaching $574 million, the second-highest monthly figure of the year and a 47.6% increase from June.
Despite a decrease in transaction counts by approximately 9%, the average sale price reached a six-month high of $113, suggesting that buyers are consolidating into higher-value assets.
It is important to note that Ethereum-based collections, which were bolstered by the strength of ETH, continued to dominate, accounting for most trading activity and indicating a widespread confidence in the sector’s recovery.