The NFT market is experiencing a strong recovery! The total market capitalization has surpassed $28.4 billion, setting a new high for the year. Ethereum's big pump has led to a 40% monthly increase, and the trading volume of the Fat Penguin has surged against BAYC.

The dormant NFT market is witnessing a significant rebound. According to CoinMarketCap, the total market capitalization of NFTs has surpassed $28.4 billion, marking a substantial rise of 40% since July. This growth is primarily driven by the surge in Ether prices (breaking $4,700), which has subsequently increased the dollar valuation of top collectibles based on ETH. The total market sales in July reached $574 million, making it the second highest monthly total in 2025, with a month-on-month surge of 47.6%. The blue-chip landscape is changing: CryptoPunks remains at the top with a market capitalization of $2.4 billion, while Pudgy Penguins has made a comeback with a weekly trading volume of $8.7 million, overtaking Bored Ape Yacht Club (BAYC) at $6.3 million. The market exhibits a trend of "price rising, volume stabilizing"—the trading volume slightly decreased by 9% to 5 million transactions, but the average selling price climbed to $113 (a six-month high), indicating that funds are concentrating on high-value assets, and the NFT ecosystem may be undergoing a structural shift from quantity to quality.

Market capitalization skyrocketed to 28.4 billion USD, Ethereum became the core engine.

The total market capitalization of the NFT market has strongly broken through the $28.4 billion mark, with a monthly increase of up to 40%, setting a new high for the year. The core driving force behind this round of growth is the surge in the price of Ethereum (ETH). With ETH recently breaking through the $4700 mark, the dollar valuation of a large number of NFT collectibles priced in ETH has naturally increased. This effect of "underlying asset appreciation driving the valuation of upper-level applications" has become a unique feature of this round of NFT market recovery.

Blue Chip Landscape Shuffle: Pengu Strikes Back, Punk Sits Steadily on the Throne

The top collectibles camp presents a new generation and fierce competition:

• Eternal Ruler: CryptoPunks continues to lead with a total market capitalization of 2.4 billion USD, showcasing its historical status and collectible value.
• New Weekly Champion: Pudgy Penguins recently performed outstandingly, surpassing Bored Ape Yacht Club (BAYC) with a weekly volume of $8.7 million compared to $6.3 million, achieving a key turnaround.
• BAYC temporarily ranks third: Despite being surpassed in volume, BAYC still firmly holds the second position in market capitalization thanks to its strong community and brand effect. The recovery of market capitalization and volume provides valuable opportunities for NFT holders who have endured a long winter to break even or take profits, and it is expected that many NFTs purchased at the peak in 2021 will return to the market.

July Data Shines: Stable Volume, Rising Prices, Highlighted Quality Demand

Key indicators of the NFT market in July release positive signals:

• Total sales: soared to $574 million, a month-on-month increase of 47.6% compared to June, making it the second best-performing month of 2025 so far.
• Number of transactions: Although there was a slight decrease of about 9% to 5 million transactions, it still maintains a healthy level of activity.
• Average selling price: significantly surged to $113, reaching a new high in nearly six months. Data reveals important trends: buyer funds are concentrating on high-value and high-quality NFT assets. This "rise in price and stable volume" situation, combined with the valuation system priced in Ether, is jointly driving the recovery of market confidence and may signify a structural shift in the NFT market from the past extensive "quantity-driven" approach to a more intrinsic value-focused "quality-driven" approach.

Ethereum Ecosystem Dominates, Recovery Foundation is Solid

In this round of recovery, Ethereum-based NFT collectibles have contributed the vast majority of trading activity and market capitalization rise, continuing to dominate. This not only reflects the market's long-term confidence in the Ethereum ecosystem but also provides a solid foundation for its overall rebound.

Conclusion

The NFT market has made a strong comeback with a market capitalization of $28.4 billion and a monthly rise of 40%, fueled by the rising price of Ether. The shifts among blue-chip assets (with Pudgy Penguins surpassing BAYC in weekly volume) and the turn in market data (average price reaching $113, a six-month high) together depict a more mature market landscape—capital is shifting from a broad net approach to a selection of high-value assets, with quality and scarcity becoming the dominant logic of the new cycle. Although the overall number of transactions has slightly decreased, the significant growth in sales and the increase in average price have injected long-awaited vitality and confidence into the market. As the Ethereum ecosystem continues to develop and more institutional funds potentially enter the space, whether this recovery can evolve into a sustainable "quality bull market" will be the biggest highlight of the next phase in the NFT field.