NFT News: NFT Market Cap Soars 94% to $6.6B in July as CryptoPunks Lead Comeback

The NFT market rebounded in July, with market cap hitting $6.6B and CryptoPunks driving the surge with $5M sales, higher floor prices, and renewed trading activity.Key TakeawaysNFT market cap surged 94% in July to $6.6 billion, according to DappRadar.Weekly NFT trading volume jumped 51% to $136 million — the strongest since February.CryptoPunks led the rally, with floor prices up 53% and a rare $5.15M Punk sale.NFT Market Cap Hits $6.6B — Strongest Surge in Over a YearThe NFT market is showing signs of revival, with July marking a major rebound.Total market capitalization: $6.6 billion, up 94% from JuneWeekly trading volume: $136 million, a 51% jump from the previous weekDappRadar noted this was the strongest week since February, following a prolonged NFT slump across late 2024 and early 2025.“The NFT market hasn’t seen this level of energy in months,” DappRadar analysts said.CryptoPunks Lead the Charge With $5.15M SaleEthereum-based CryptoPunks remain the NFT gold standard, driving much of July’s resurgence.Floor prices jumped 53%, climbing to 47.5 ETH (~$180,000) in 24 hours.83 CryptoPunks were purchased by new holders in a single day.GameSquare Holdings bought CryptoPunk #5577 (the Cowboy Ape Punk) for $5.15 million in company stock.The Cowboy Ape Punk is one of only 24 Ape Punks in existence, previously sold for $7.7M in 2022.“For some, owning a Punk is about more than profit — it’s status,” DappRadar analyst Sara Gherghelas noted.Ethereum NFTs Dominate — Pudgy Penguins & CryptoBatz SurgeBeyond CryptoPunks, other Ethereum NFT collections saw notable gains:Pudgy Penguins briefly surpassed CryptoPunks in weekly trading volume, topping $20M before CryptoPunks regained the lead.CryptoBatz NFTs — created by heavy metal icon Ozzy Osbourne — surged 400% after news of Osbourne’s death circulated among collectors.NFT Market OutlookThe July rebound has NFT traders optimistic about a broader recovery.Market cap: $6.6B and risingTop driver: CryptoPunks’ multimillion-dollar sales & rising floor pricesEmerging collections: Pudgy Penguins, CryptoBatzIf trading volume sustains, analysts believe Ethereum-based NFTs could lead another market-wide NFT rally into late 2025, according to Coinetelgraph.