The mysterious token (NFT) market is showing signs of a comeback, as the sector’s total market capitalization reached $6.6 billion in July, according to data platform Dappradar.
The platform reported Thursday that the figure represents a 94% increase from the previous month. Weekly trading volume surged to $136 million, up 51% from the previous week, marking its strongest weekly performance since February.
The surge continued to decline in quarterly trading volume. On July 10th, Dappradar data showed that NFT trading volumes had a consistent decline in quarter 2024 to quarter 2025.
Cryptopunkks lead revival as NFT sells for over $5 million
Ethereum-based NFT collection Cryptopunks leads the price. According to Dappradar, the price of Cryptopunk Floor has increased by 53%. This collection remains the most aggressively traded among NFTs.
“They are still the gold standard for Web3’s influence,” writes Dappradar analyst Sara Gherghelas. “For some people, owning a punk is more than a profit. It’s a status, pure and simple. And now that status is trending.”
On Monday, Cryptopunks recorded a massive jump in floor prices. The collection has now reached 47.50 ether (ETH) floor prices, worth around $180,000 in 24 hours.
This was an increase of 15.9% from the starting floor price of 40.9 ETH that day. Additionally, data showed that 83 cryptopunks had been purchased by new owners that day.
Aside from rising floor prices, the highly-crowded cryptocurrency was sold.
On Thursday, GamesQuare Holdings announced it had purchased the iconic Cowboy Ape Cryptopunk Punk #5577 for $5.15 million.
APE-themed punk is on sale for over $5 million. Source: Cryptopunks
Robert Leshner, founder of Defi Protocol Compount, former owner of Punk, works with GamesQuare as a shareholder.
Cryptopunk is one of the only ape-themed punks and has a cowboy hat. It was first billed in 2017 and sold for $454. It was sold for $7.7 million on February 9, 2022, according to the Cryptopunks website.
Related: Memecoin $79B rally means capital can’t go anywhere: exec
Ethereum NFT dominates the rankings
Apart from Crypto Punk, the penguin-themed collection of Pudgy Penguins was also on the rise.
Last week, Pudgy Penguins surpassed Cryptopunks’ seven-day trading volume, reaching over $20 million. However, at the time of writing, Cryptopunk had regained its top spot, with the drooping Penguin in second place.
Meanwhile, another Ethereum-based collection surged after the death of its creator, heavy metal icon Ozzy Osbourne. On Wednesday, the Cryptobatz NFTS skyrocketed 400% after news of Osborne’s death reached NFT collectors.
https://www.youtube.com/watch?v=hpnl-1zrqxk
magazine: There are no fans of Jack Butcher’s NFT royalty: “You’re paid with churn.”