The non-fungible token (NFT) sector surged to a market capitalization of greater than $9.3 billion as Ethereum-based collections elevated together with the worth of Ether.
NFT knowledge tracker NFT Price Floor confirmed on Wednesday that the general market capitalization for NFT collections had hit $9.3 billion, a 40% uptick from July. According to DappRadar knowledge, NFTs had a market capitalization of $6.6 billion final month.
Ether (ETH), which not too long ago pushed previous the $4,000 milestone, has been a key driver behind the NFT market surge. At the time of writing, ETH traded above $4,600 and had a market capitalization of over $557 billion, in response to CoinGecko.
Since many NFTs are primarily based on the Ethereum mainnet, their gross sales and valuations are denominated in ETH. Because of this, bullish momentum of the crypto asset interprets into greater market values and elevated exercise within the NFT area. At the time of writing, the highest 10 NFT belongings by market cap had been Ethereum-based.
NFT market cap has surged 40% since July
CryptoPunks retains its spot because the high NFT assortment by market capitalization. NFT Price Floor knowledge reveals that the gathering is price a minimum of 526,900 ETH (about $2.4 billion).
In the final seven days, CryptoPunks had virtually 4,200 ETH in quantity, price virtually $20 million. During the week, the gathering had 90 complete gross sales, averaging at $217,331 per NFT.
The Bored Ape Yacht Club (BAYC) follows CryptoPunks within the rankings with a valuation of $602 million, whereas Pudgy Penguins follows carefully with $591 million.
Related: $8.5 million NFT gross sales surge to $574 million in July, second-highest in 2025
Pudgy Penguins added to a crypto treasury
Still, whereas BAYC leads in valuation, the Pudgy Penguins assortment tops BAYC when it comes to seven-day quantity. DefiLlama knowledge means that Pudgy Penguins had a quantity of $8.7 million previously week, whereas BAYC had $6.3 million.
In a Cointelegraph interview, Pudgy Penguins CEO and proprietor Luca Schnetzler (higher generally known as Luca Netz) mentioned the gathering’s growth right into a bodily toy model saved the corporate from chapter in 2022.
Since then, the gathering has been a number one NFT model, rivaling different blue-chip collections.
This week, blockchain firm BTCS Inc. mentioned it added three Pudgy Penguins to its company treasury.
Apart from the three collections, different high 10 NFT collections by market cap embrace Art Block’s Chromie Squiggle by Snowfro, Autoglyphs, Fidenza by Tyler Hobbs, Lil Pudgys, Mutant Ape Yacht Club (MAYC), Moonbirds and Milady Maker.
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