Ethereum Celebrates 10 Years with NFT Torch

As Ethereum approaches its 10th anniversary, riding high on recent price and market capitalization gains, the network has launched a symbolic NFT torch to celebrate its growth and global community.

Ethereum Lights NFT Torch for 10-Year Milestone

Ethereum has introduced a unique NFT torch to commemorate its upcoming 10-year anniversary, embodying collaboration, decentralization, and innovation. The Ethereum Foundation announced the initiative on its official X (Twitter) account.

Dubbed “The Ethereum Torch,” the NFT will be passed between wallets daily until July 30. This digital torch honors the individuals, ideas, and values that have shaped the Ethereum ecosystem since its 2015 launch. Joseph Lubin, co-founder of Ethereum and founder of ConsenSys, is the first torchbearer.

For ten days, prominent community figures and builders will hold the torch for 24 hours each, reflecting Ethereum’s global reach and shared stewardship. On July 30, the NFT will be burned, symbolizing the end of Ethereum’s first chapter and the beginning of its next.

A new NFT will be available for anyone to mint freely as a public memento of the milestone, echoing Ethereum’s values of inclusivity, transparency, and decentralization. The initiative turns the anniversary into a collaborative digital ritual, reinforcing Ethereum's community-driven platform.

“A commemorative NFT will be available that day for anyone to mint,” the network stated.

Ethereum NFT Volume Surges 300%

While the NFT torch highlights Ethereum’s cultural legacy, on-chain data indicates a resurgence in NFT market activity, with Ethereum leading the way. Last week, weekly NFT trading volume across all blockchains exceeded $140 million, the highest in over six months. Ethereum-based projects accounted for over half of that total, registering $75 million in volume.

This represents a 300% surge from two weeks prior, when Ethereum NFTs saw only $18.3 million in trade volume. The uptick coincides with Ethereum’s recent price appreciation. Since July 6, ETH has jumped nearly 50%, rising from around $2,525 to $3,730, reigniting speculative interest in digital collectibles.

Other blockchains also saw movement: Bitcoin-based NFTs recorded $25.6 million in weekly volume, more than doubling from $11 million in early July. Cboe BZX recently filed for an ETF from Canary Capital that would hold PENGU — a token tied to Ethereum-native Pudgy Penguins. The collection ranked third in volume last week, per CryptoSlam, behind CryptoPunks and Bored Ape Yacht Club derivatives.

Yuga Labs is repositioning by offloading IP from Moonbirds, CryptoPunks, and Meebits, refocusing on building Otherside, its metaverse experience.

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