The NFT space roared back to life in July, recording its most impressive surge in over a year. According to new data from DappRadar, the total NFT market cap soared by 94% month-over-month, hitting $6.6 billion, while weekly trading volume jumped 51% to $136 million — a level not seen since February.
“The NFT space is buzzing again,” said analysts at DappRadar. “We’re seeing energy return after months of market stagnation.”
CryptoPunks at the Forefront of NFT Revival
Leading the charge were CryptoPunks, the iconic Ethereum-based NFT collection that saw an explosive return to the spotlight.
Floor prices surged by 53%, reaching 47.5 ETH (approximately $180,000) in just one day.
A rare Cowboy Ape Punk (#5577) sold for a jaw-dropping $5.15 million, acquired by GameSquare Holdings using company stock.
83 CryptoPunks were snapped up by new owners in a single day.
This latest sale underscores the collection’s legendary status — especially for rare Ape Punks, of which only 24 exist.
“For collectors, owning a Punk isn’t just an investment — it’s a cultural badge,” said Sara Gherghelas, analyst at DappRadar.
Ethereum NFTs Dominate, With Surprises Along the Way
CryptoPunks weren’t the only ones enjoying a comeback. Several other Ethereum-based projects also experienced major growth:
Pudgy Penguins briefly overtook CryptoPunks in trading volume, crossing $20 million before the Punks reclaimed the top spot.
CryptoBatz, the bat-inspired collection launched by Ozzy Osbourne, spiked over 400% in trading volume following news of the rock icon’s passing.
Looking Ahead: Is This the Start of a New NFT Bull Run?
With the market cap climbing and high-profile sales making headlines, sentiment across the NFT community is shifting.
Total Market Cap: $6.6B and growing
Key Drivers: Institutional-grade sales, rising floor prices, and renewed interest in blue-chip collections
Rising Stars: Pudgy Penguins and CryptoBatz gaining ground fast
If trading volumes remain steady, analysts suggest Ethereum-based NFTs could lead the charge into a broader NFT market revival through late 2025.
