NFT Market Ignites with 22% Daily Surge: Are Digital Collectibles Entering a New Bull Run?

NFT Market Stages Major Comeback with Explosive 22% Upswing

In a dramatic turnaround, the non-fungible token (NFT) market has burst back to life, capturing the attention of crypto investors worldwide. On July 21, 2025, the total market capitalization for NFTs soared by an impressive 22% in just 24 hours, climbing from $5.1 billion to a robust $6.4 billion. This rapid resurgence has sparked widespread excitement, with seasoned and new collectors flocking back to blue-chip collections.

Leading NFT Collections Drive Renewed Market Fervor

At the forefront of this rally, renowned NFT collections have set the pace for growth. CryptoPunks, a longstanding icon in the digital collectibles space, witnessed its floor price leap by almost 16% to 47.5 ETH (about $179,000). The momentum was echoed by Pudgy Penguins, whose lowest listing rose 15% to 16.75 ETH (approximately $63,500). Meanwhile, fast-growing projects like Moonbirds and Lil Pudgys delivered remarkable gains, jumping 34% and 17% respectively to reach 1.94 ETH and 1.78 ETH.

This renewed interest has ignited a surge in trading activity. Daily volumes have rocketed to $42.7 million—an increase of 344%—pushing NFT trading to its highest levels in over six months. For market participants, these numbers signal a potential turnaround after months of subdued action across NFT platforms.

Whale Activity and Broader Crypto Rally Fuel NFT Surge

Behind this dramatic rise lies a renewed presence of so-called ‘whales’—high-net-worth traders capable of moving markets. Blockchain analytics platform Lookonchain reported a fresh whale wallet deploying 2,082 ETH (roughly $5.7 million) to acquire 45 CryptoPunks in quick succession. This aggressive buying spree instantly propelled floor prices upwards, igniting broader enthusiasm and speculative movement across the NFT space.

Additionally, this NFT resurgence is closely tied to bullish sentiment in the wider cryptocurrency market. Ethereum (ETH) is trading above $3,800—a multi-month high—while Bitcoin (BTC) remains stable above $119,000. This general uptrend is reinforcing investor confidence and drawing fresh capital into NFT ecosystems.

The Road Ahead: Is a Lasting NFT Bull Market Emerging?

Prominent voices in Web3 already suggest that a new ‘NFT season’ has arrived. Influencers on social media platform X and industry leaders have framed this uptick as the beginning of a renewed NFT bull cycle, with speculation that institutional-grade NFT investment vehicles may soon follow.

However, caution remains. Latest data from CryptoSlam reveals that active NFT buyers are still 52% below previous peaks, and global NFT transaction counts have decreased by 11.6%. While the current momentum is significant, it remains uncertain whether this marks the start of a sustained revival or merely a short-lived spike.

As market dynamics continue to evolve, all eyes are on the NFT sector to see whether this comeback can translate into long-term growth for digital collectibles and the wider blockchain economy.