The NFT market is witnessing a strong revival, with total market capitalization surging to $6.6 billion in July, reflecting renewed investor and collector interest.
After a long period of cooling sentiment, the NFT market staged a notable comeback this month. A recent report by DappRadar reports a 94% increase in market capitalization from June, reaching $6.6 billion.
The NFT market is showing serious signs of a comeback 📈
With market cap up 94% and volume jumping 51%, collections like Pudgy Penguins and Art Blocks are stealing the spotlight.
Is this the start of the next bull run?
Dive into the full article 👇https://t.co/vB71xkGbtU— DappRadar (@DappRadar) July 24, 2025
As per the report, the weekly NFT trading volumes also climbed to $136 million, marking a 51% surge from the previous week. This is the strongest weekly trading volume for the sector in the last five months.
NFT Growth in July
Ethereum-based ETH $3 952 24h volatility: 0.9% Market cap: $477.09 B Vol. 24h: $12.18 B CryptoPunks led the charge, with its floor prices rising 53%. On Monday, the floor price spiked to 47.50 ETH, up 15.9% from the day’s starting floor of 40.9 ETH.
A total of 83 NFTs from the collection were bought by new holders looking for the best crypto to buy, suggesting renewed collector interest in high-value NFTs.
GameSquare Holdings drew further attention to the market by acquiring Punk #5577 for $5.15 million in preferred stock. The NFT, one of just 24 ape-themed Punks, was originally claimed in 2017 for $454 and last sold for $7.7 million in 2022.
This month’s NFT market growth can also be confirmed by Snoop Dogg’s new NFT collection’s success. Earlier this month, the rapper sold nearly 1 million NFTs within 30 minutes of launch, generating over $12 million in proceeds.
Pudgy Penguins PENGU $0.0213 24h volatility: 1.2% Market cap: $1.34 B Vol. 24h: $113.09 M , another top collection, briefly overtook CryptoPunks in seven-day trading volume last week but has since moved back to the second spot.
Short-Term Drop Amid Broader Crypto Decline
Despite the positive momentum in July, NFT trading remains sensitive to broader market shifts. DappRadar previously reported a consistent decline in NFT trading volumes from Q2 2024 to Q2 2025 before the July rebound, highlighting the volatility in the sector.
Recent data from Cryptoslam shows NFT sales volume falling by 45% to $32.4 million in the past 24 hours, following a 1% drop in the overall crypto market cap.
Experts had previously predicted an NFT rebound. In May, DappRadar analyst Sara Gherghelas noted the sector could make a comeback but would need new catalysts, with real-world assets cited as a potential driver for sustained growth.
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