NFT Market Roars Back: Floor Prices Surge for Top Collections
Investors are rapidly returning to the non-fungible token (NFT) space, spurred by a significant single-day acquisition of blue-chip NFTs and bolstered by a broader crypto market rally.
Top NFT Collections See Dramatic Price Increases
According to CoinGecko data, CryptoPunks, the largest NFT collection by market capitalization, experienced a 15.9% surge in its floor price, climbing from 40.9 ETH to 47.50 ETH (over $179,000). In a single day, 83 CryptoPunks were acquired by new holders.
Pudgy Penguins, the second-largest collection by market cap, also saw a substantial increase, spiking over 15% to 16.60 ETH ($62,597), with 100 new holders joining the community on Sunday.
Infinex Patrons NFT collection, which grants governance voting power over the Infinex protocol, rounds out the top three with a 9.4% increase to 1.4 Ether, valued at $5241.
Broader Market Trends
The overall NFT market capitalization has jumped 21.2% in the last 24 hours, reaching over $6.34 billion. Total sales volume has also increased dramatically, up 303% to $38.7 million for the day, according to CoinGecko.
This resurgence marks a significant shift from earlier in the year. As recently as April, reports indicated a 61% plunge in NFT volumes during the first quarter of 2025, totaling $1.5 billion. 2024 was also flagged as the market’s worst year since 2020 for NFT trading volume and sales, impacted by volatility and rising token prices.
Community and Expert Perspectives
Industry observers speculate that this surge could signal a genuine comeback for the NFT market, reversing a multi-year decline since the highs of 2021.
Investor Tyler Warner noted that many underestimate the continued enthusiasm for NFTs among those who entered the space in 2021.
Digital artist Beeple, who famously sold "Everydays: The First 5000 Days" for $69 million in 2021, celebrated the price boom with a new artwork titled “Big Sweep.”
Expert Predictions of a Rebound
CryptoSlam strategist Yehudah Petscher suggested in May that the NFT market was preparing for a rebound, albeit with more moderate expectations compared to previous peaks.
DappRadar analyst Sara Gherghelas also indicated the sector's potential for a comeback, emphasizing the need for new catalysts such as real-world assets to drive growth.
Adding to the positive momentum, rapper Snoop Dogg recently sold out a collection of nearly 1,000 NFTs on Telegram in just 30 minutes, further fueling discussions about a potential market resurgence. This type of rapid sell-out highlights the renewed interest and potential in the NFT space.