NFT Market Roars Back: Capitalization Surges to $28.4 Billion
After a period of decline following the 2021 boom, the NFT market is showing renewed strength. Boosted by Ethereum's recent price surge, the sector's market capitalization has reached $28.4 billion.
NFT Market Cap Exceeds $28.4 Billion
Data from CoinMarketCap indicates that the NFT market capitalization has grown to over $28.4 billion, a 40% increase compared to July.
This growth is largely attributed to the rise in Ethereum's price, which surpassed $4,700. Many Ethereum-based NFT collections have seen their value increase accordingly, as their prices are often denominated in ETH.
Top NFT Collections Lead the Charge
Leading collections include:
- CryptoPunks: Remaining at the top with a market cap of $2.4 billion.
- Bored Ape Yacht Club (BAYC)
- Pudgy Penguins: Showing strong performance.
Pudgy Penguins recently surpassed BAYC in weekly trading volume, recording $8.7 million compared to BAYC's $6.3 million.
This price surge offers potential for NFT holders to recoup investments made during the 2021 peak. July saw a resurgence in NFT activity, with sales of $574 million, the second-highest monthly volume of 2025, a 47.6% increase over June. The average sale price rose to $113, a six-month high.
Buyers now seem to be focusing on higher-value NFTs, a trend that, combined with Ethereum-priced valuations, is driving renewed market confidence.