NFT Trading Volumes Surge on Solana and Ethereum, with CryptoPunks Taking the Lead
The NFT market, which saw a significant downturn in volume and activity earlier this year, has experienced a notable resurgence since June-July 2025. This revival, led by established projects like CryptoPunks on Ethereum and blue-chip collections on Solana, has been driven by rising crypto prices and renewed investor interest.
In the first half of 2025, the NFT market generated $2.82 billion in sales, marking a 45% drop in volume during Q2 compared to Q1. However, since then, there has been a remarkable rebound. In July 2025 alone, the NFT market capitalization jumped 94% to about $6.6 billion. Weekly trading volume rose 51% to $136 million, the highest levels seen since early 2025.
CryptoPunks have been at the forefront of this revival. The floor price of CryptoPunks has increased 53% and a notable $5 million sale sparked renewed interest. The floor price in ETH has risen to around 48 ETH, translating to about $177,000, a 45% increase in USD terms due also to Ethereum’s price rise. Trading volume for CryptoPunks also soared, with recent sales jumping 460% week-over-week, contributing over half of Sunday’s $26 million Ethereum NFT trading volume in late July 2025.
Other established collections like Pudgy Penguins have seen even greater floor price increases (539%), surpassing the Bored Ape Yacht Club in market capitalization and expanding into physical merchandise, demonstrating growing real-world utility.
This recovery coincides with rising prices of Ethereum and Solana, which are the primary blockchain platforms for major NFT collections. Correspondingly, the NFT sector’s daily trading volume surged from about $10 million a month ago to over $45 million recently.
The renewed demand reflects a shift back towards blue-chip and high-value NFTs rather than speculative low-tier NFTs, with average NFT prices jumping 40% in a week while sales volumes increased modestly, signaling more focused investment.
Other Ethereum-based NFT collections, such as Pudgy Penguins, Mutant Ape Yacht Club, and Fidenza, have also seen floor prices increase. Bitcoin-based collectibles have seen floor prices tick up as well, with Taproot Wizards climbing 26% to $26,700 and Bitcoin Puppets rising 10% to $4,800.
The entry-level Solana Monkey Business Gen2 NFTs have jumped 43% to $4,000 over the past week, while the price of Mad Lads NFTs on Solana has increased 27% over the past week to $6,800. The floor price of Clarnosaurz NFTs on Solana has risen 47% to $2,100 over the past week.
It's worth noting that no NFT collection referenced in this article is close to setting an all-time high floor price. The rebound in NFT trading activity has been less pronounced than a burst of trading volume seen earlier this year.
The daily NFT trading volume has spiked above $50 million four times within the past year. NFT marketplaces like OpenSea and Blur have seen trading volume surge, with OpenSea's NFT trading volume surging 44% to $9.5 million on Monday, and Blur seeing a 120% jump in trading volume to $12.8 million on Monday. In total, $9.3 million worth of Solana-based NFTs sales have taken place on secondary markets over the past seven days, a 59% increase.
A newly established nonprofit called The Infinite Node Foundation acquired the IP to CryptoPunks in May. The collection of 10,000 pixelated profile pictures, CryptoPunks, has been recognized by museums, auction houses, and luxury brands.
The strong resurgence in NFT trading volume suggests a continued interest in digital art and collectibles, despite the market's earlier downturn. As the market matures, it's likely that we'll see more focus on established projects and blue-chip NFTs, as well as increased real-world utility and adoption.
- The revival of the NFT market, initially led by projects like CryptoPunks on Ethereum and blue-chip collections on Solana, has been driven by rising crypto prices and renewed investor interest.
- Trading volume for CryptoPunks has soared, with recent sales jumping 460% week-over-week, contributing over half of Sunday’s $26 million Ethereum NFT trading volume in late July 2025.
- Other established collections like Pudgy Penguins have seen even greater floor price increases, surpassing the Bored Ape Yacht Club in market capitalization and expanding into physical merchandise.
- Correspondingly, the NFT sector’s daily trading volume surged from about $10 million a month ago to over $45 million recently, with the daily NFT trading volume spiking above $50 million four times within the past year.
- As the market matures, it's likely that we'll see more focus on established projects and blue-chip NFTs, as well as increased real-world utility and adoption.
- In addition to Ethereum-based NFT collections, Bitcoin-based collectibles like Taproot Wizards and Bitcoin Puppets have also seen floor prices tick up, showcasing growth in multiple crypto ecosystems.
