NFT Market Shows Signs of Recovery
The NFT market is showing genuine signs of recovery. After months of consolidation, there are finally signs of warming: floor prices are rising, market capitalization is rebounding, and some familiar names are surpassing established NFTs. From Pudgy Penguins overtaking BAYC to the unexpected return of Art Blocks, the market atmosphere is changing. This article will analyze the latest data, highlighting the best-performing categories and collections, and explore whether this is a temporary fluctuation or the start of a larger trend.
Key Points:
- In July, NFT market capitalization surged by 94%, reaching nearly $6.9 billion, marking the highest level since early 2025.
- Weekly trading volume jumped by 51%, hitting $136 million, making July one of the best-performing months since February.
- The average price of NFTs increased by 40% within a week, reaching $146, but trading volume only grew by 7%, clearly indicating that traders are shifting towards higher-value assets.
- Pudgy Penguins’ market capitalization surpassed BAYC, with its floor price rising by 539% since launch, increasing by 7% just this week.
- CryptoPunks saw a 53% increase in floor price, signaling renewed interest in blue-chip stocks and the resilience of Web3 culture.
- Fueled by new buyers and the topic of airdrops, Moonbirds’ trading volume soared by 600%, though its floor price has still fallen by 64% since launch.
NFT Market Overview
The NFT market is demonstrating strong signs of recovery. Since the beginning of this month, market capitalization has increased by 94%, reaching $6.6 billion, the highest level since early 2025. Weekly trading volume surged by 51%, reaching $136 million, likely making July one of the best-performing months since February.
Sales volume has increased by 7% month-over-month, but the overall sales for this month will not surpass June’s. Last month, sales exceeded 5 million, whereas July has only just crossed the 3 million mark. What is the reason? As ETH rises, NFTs follow suit. In just 7 days, the average price of NFTs surged by 40%, reaching $146.
With decreasing trading volume and rising prices, the market is changing. The blue-chip craze is making a comeback.
Popular NFT Categories – Weekly Performance
With the evident return of the blue-chip craze, this article focuses on the best-performing NFT categories from the past week. Unsurprisingly, PFPs are leading the charge, accounting for 37% of total trading volume. Following closely are RWA NFTs, which account for 11%, indicating that the tokenization narrative still has vitality.
However, not all categories have joined the upward trend. NFTs in sports, music, and fashion have not experienced a rise. Although gaming NFTs performed steadily in the second quarter, their popularity has slightly cooled, with a noticeable drop in sales this week. Nonetheless, the dominance of PFPs aligns with the current market sentiment. Whenever the NFT market heats up, PFPs always take the lead, just like in previous bull market cycles. Some things are not easily changed.
This Week’s Notable NFT Collections
This week, the market is focused on significant movements among top NFTs, the return of hype, and a series of floor price changes.
Pudgy Penguins: The New Heavyweight Collection
Pudgy Penguins’ market capitalization has officially surpassed Bored Ape Yacht Club, now ranking just below CryptoPunks. Since launch, the floor price has risen by 539%, gaining another 7% in the past 7 days. How did Pudgy Penguins achieve this? It’s simple: they launched during the bear market. From IRL benefits to connecting Web2 and Web3, and now expanding into Asia through plush toys, the timing of the brand’s emergence is particularly opportune, especially during the current collectibles craze.
CryptoPunks: Back in the Spotlight
The punk era never really ended, but it seems to be shining again. Just this week, the floor price increased by 53%, and the collection remains one of the most actively traded collectibles. Don’t forget, this was once a free candy back in 2017. Whenever the market shows new vitality, the punk series returns to the focus. They remain the gold standard of Web3 influence. For some, owning a punk collectible is not just about making money—it is a symbol of identity, pure and simple. And now, this identity status is becoming increasingly popular.
Moonbirds: A Surprising Comeback
Moonbirds are back, and honestly, it’s quite surprising. After fading from blue-chip status, Moonbirds staged a strong comeback:
- Floor price increased by 60%
- Trading volume surged by 600%
What caused this? Following its acquisition by Orange Cap Games in May, the company announced a partnership with Towns on July 19. Holders can now enter a private on-chain space and increase points before airdrops. It is worth mentioning that since launch, Moonbirds’ dollar value has still fallen by 64%, so there is still a long way to go. That said, its momentum is strengthening.
Art Blocks: A Quiet Return
If anything can release the energy of a bull market, it is the return of Art Blocks. This week, it climbed into the ranks of the highest trading collectibles, with the average sale price soaring by 156%. On July 10, the platform announced a significant transformation, launching collector profiles, wallet integration, and an achievement system, providing a better user experience for general collectors. The market has taken note of this. Top projects like Fidenza have reignited interest, and the feeling of art is starting to re-enter NFT discussions.
PFPs and art are accelerating, and if historical experience can prove this, this combination will open the next round of the NFT bull market. It is too early to draw conclusions, yet signals are emerging. Looking forward to next week’s trends.
Conclusion
The past week has glimpsed a possible scenario of NFT revival: floor prices rising, PFPs regaining dominance, and art making a quiet but strong return. Pudgy Penguins surpassed BAYC, CryptoPunks are heating up again, and Moonbirds are soaring—these all suggest one thing: the market is shifting, and attention is refocusing on NFTs.
This article is co-published with: PANews