Ethereum’s recovery over $4,600 is lighting the NFT market’s path to a stunning rebound. Collectors and creators alike have recently rediscovered their appetite for NFTs. This surge has propelled sales to an all-time high of $9.3 billion, a stunning 40% over July’s $6.6 billion. With Ethereum’s market cap now over $557 billion, the recovery of crypto prices is leading to a revival of digital arts. This blast of activity represents a key reversal after a more than year-long bear market that has renewed optimism about the long-term promise of NFTs.

The NFT market continued to struggle during this time with a sustained bear market into the beginning of 2024. The most recent boom is largely credited to Ethereum’s success. Ethereum brought in $275.6 million in NFT sales in July, a 56% jump from June. This breathtaking expansion highlights the near-perfect inverse relationship that Ethereum’s price volatility has with the NFT space’s overall wellbeing.

Ethereum's Influence on NFT Sales

Ethereum's influence extends beyond just sales volume. And of course, the blockchain-based collectible’s price value revival has led to a rekindling of interest among collectors and creators alike. And it’s driven huge investments in Ethereum by publicly traded companies. So far a little under 59 public companies have cumulatively added over $9 billion worth of Ethereum to their balance sheets. This change reflects tremendous institutional conviction in the asset.

Based on the NFT sales figures of $574 million in July 2025, this was the second-best month of the entire year. The median sale price of NFTs reached $113.08, a six month high. According to today’s NFT market recovery data, the active trading scene and significant uptick in valuations on NFT projects all signal a strong rebound.

Should Ethereum keep climbing to meet the bullish analyst projections of $7,500 before the year is out, NFT prices might experience even more appreciation. The strong positive correlation between Ethereum’s price and NFT values bodes well for the future of the digital art market.

CryptoPunks Lead the Charge

CryptoPunks still ranks #1 among NFT collections in total value, at $2.4 billion. CryptoPunks has done just under $20 million in trading volume over 90 sales just in the last week alone. The collection’s lasting appeal and large trading volume, as well as proper mathematics, cements its importance in the NFT space.

CryptoPunks subsequently saw their floor prices rise 14% to $175,320 following a whale purchase. Most notably, one wallet spent $5.87 million purchasing 45 CryptoPunks in a few hours. This massive investment speaks to the demand and value perceived for these iconic NFTs.

Together, the increased floor prices and considerable trading activity highlight blue-chip NFT collections’ second wind. This type of activity only serves to strengthen the proof that the NFT market is back on the rise.

Pudgy Penguins Gain Momentum

Although CryptoPunks is still king, other NFT collections are minting new fortunes at breakneck speed. Pudgy Penguins topped BAYC on weekly volume, with $8.7 million to BAYC’s $6.3 million. The ascent of Pudgy Penguins is proving to be another example of the dynamic NFT marketplace.

The builders’ competition between projects from the same ecosystem is super healthy and beneficial to the NFT ecosystem as a whole. It encourages new avenues of creativity and gives collectors a wealth of choice. It further underscores the fast pace of change within the NFT market.

Other NFT collections are buzzing with heightened activity. With breakout and smasher projects, such as established CryptoPunks and newcomers Pudgy Penguins, the market is still active, vibrant and rapidly changing. This again shows the recovery is more widespread and the digital collectibles market is making quite a comeback.