NFT Market Rebounds: $28.4B and Growing Fast

NFTs boomed in 2021 before falling back into oblivion. However, in recent months, the sector seems to be picking up steam, and Ethereum’s recent surge has helped the market reach a capitalization of $28.4 billion.

NFT market surpasses $28.4 billion

According to data from CoinMarketCap, the NFT market capitalization has now exceeded $28.4 billion, representing a 40% increase compared to July.

This increase is mainly due to the surge in Ethereum price, which recently surpassed $4,700. In its wake, many Ethereum-based collections have seen their value rise. Indeed, as their price is expressed in ETH, when its value mathematically increases, it raises the value of NFT collections too.

Iconic collections at the top

Among the most popular collections are CryptoPunks, which remain at the top with a market capitalization of $2.4 billion. They are followed by Bored Ape Yacht Club (BAYC) and Pudgy Penguins, as seen in the ranking above.

The Pudgy Penguins recently surpassed the BAYC in terms of weekly volume. With $8.7 million in volume, the penguins lead the monkeys, which recorded $6.3 million.

This surge in prices should allow many owners to recoup their costs after months of decline. It’s a safe bet that many will sell their hard-earned NFTs from the peak of the hype in 2021.

July saw a resurgence of NFT activity, with sales of $574 million — the second-highest monthly volume of 2025 — 47.6% higher than in June. Although there was a modest decline in the number of transactions (5 million), the average sale price rose to $113, a six-month high.

This implies that buyers are now concentrating on more expensive NFTs — a trend which, combined with Ethereum‑priced valuations, is driving renewed market confidence and a possible structural shift in favor of quality over quantity.

Sustained Sales Momentum Suggests Healthy Market Revival

July 2025 delivered a strong uptick in NFT activity, with total sales soaring to $574 million, the second‑highest monthly figure of the year and a 47.6% increase over June.

Even though transaction counts dipped ~9%, the average sale price spiked to $113, a six‑month high — indicative of buyers consolidating into higher‑value assets.

Notably, Ethereum-based collections, boosted by ETH’s strength, remained dominant, accounting for the lion’s share of trading activity and signaling broad confidence in the sector’s rebound.

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.