NFT makes a strong comeback: Big money flows back, trading volume reaches a 6-month peak

After a long period of decline, the market #NFT​ is showing clear signs of recovery, with a total trading volume of 143.5 million USD in the past week, the highest level since mid-January 2025. This recovery is primarily driven by projects on Ethereum, with 75 million USD traded, accounting for more than 50% of the entire NFT market share.

Money flows back and new directions for Blue-chip NFT

This growth coincides with a strong price increase of $ETH , rising nearly 50% from 2,525 USD to 3,730 USD. NFTs on Bitcoin also recorded significant gains. Notably, the market witnessed an anonymous whale buying 54 CryptoPunks in just a few hours, indicating the return of large capital flows.

Although 2024 is a challenging year, this "cleansing" phase has helped sustainable collections like CryptoPunks, Pudgy Penguins, and metaverse projects assert their positions. Yuga Labs (behind Bored Ape Yacht Club) has sold the intellectual property rights of Moonbirds, Meebits, and CryptoPunks, fully focusing on the flagship metaverse project Otherside.

Another breakthrough development is that Canary Capital has proposed the Canary PENGU ETF to the SEC, the first ETF combining token (PENGU) and NFT (Pudgy Penguins) as underlying assets. If approved, this will be a historic milestone, opening the door for institutional capital into the Web3 market. #anhbacong