Back to the list

NFT market cap surged to $6.6B in July: DappRadar

cointelegraph.com 25 July 2025 11:24, UTC

NFT

The non-fungible token ($NFT) market is showing signs of a resurgence, as the sector’s total market capitalization reached $6.6 billion in July, according to the data platform DappRadar.

The platform reported on Thursday that the figure represented a 94% increase from the previous month. Weekly trading volume surged to $136 million, up 51% from the prior week, marking the strongest weekly performance since February.

The surge followed a continuous decline in quarterly trading volumes. On July 10, DappRadar data showed that $NFT trading volumes went down consistently from the second quarter of 2024 to the second quarter of 2025.

CryptoPunks lead resurgence as $NFT sells for over $5 million

Ethereum-based $NFT collection CryptoPunks has led the charge. According to DappRadar, CryptoPunk floor prices have jumped 53%. The collection remains the most actively traded among NFTs.

“They’re still the gold standard of Web3 clout,” DappRadar analyst Sara Gherghelas wrote. “For some, owning a Punk is about more than profit — it’s status, pure and simple. And right now, that status is trending.”

On Monday, CryptoPunks recorded a massive jump in floor prices. The collection went to a 47.50 Ether ($ETH) floor price, worth nearly $180,000, in 24 hours.

This was a 15.9% increase from its starting floor price of 40.9 $ETH that day. In addition, data showed that 83 CryptoPunks were bought by new holders that day.

Apart from its floor price increase, high-profile CryptoPunk sales were made.

On Thursday, GameSquare Holdings announced that it had purchased Punk #5577, the iconic Cowboy Ape CryptoPunk, for $5.15 million of the company’s preferred stock.

Ape-themed Punk sells for over $5 million. Source: CryptoPunks

The Punk’s previous owner, Robert Leshner, the founder of DeFi protocol Compound, will now work with GameSquare as a shareholder.

The CryptoPunk is one of the only 24 ape-themed Punks and has a cowboy hat. It was first claimed in 2017 and was sold for $454. It was sold for $7.7 million on Feb. 9, 2022, according to the CryptoPunks website.

Related: Memecoin $79B rally means capital has nowhere better to go: Exec

Ethereum NFTs dominate rankings

Apart from CryptoPunks, penguin-themed collection Pudgy Penguins was also on the rise.

Last week, Pudgy Penguins surpassed CryptoPunks’ seven-day trading volume, recording over $20 million. However, at the time of writing, CryptoPunks had regained the top spot, putting Pudgy Penguins in second place.

Meanwhile, another Ethereum-based collection surged after its creator, the heavy metal icon Ozzy Osbourne, died. On Wednesday, CryptoBatz NFTs surged by 400% after news that Osbourne had died reached $NFT collectors.