CryptoPunks has spearheaded a significant recovery in the NFT sector, punctuated by a record-breaking $5.15 million transaction and soaring valuations across Ethereum-based collections. The pioneering project saw its floor price surge 53% to 47.50 ETH (approximately $180,000), accompanied by 83 new holders acquiring NFTs within a single day, signaling renewed institutional and retail interest in blue-chip digital assets.
Highlighting the renewed market vigor, GameSquare Holdings acquired CryptoPunk #5577 through a $5.15 million company stock deal, underscoring high valuations for rare NFTs. Ethereum ecosystem peers similarly surged, with Pudgy Penguins posting substantial gains and CryptoBatz prices rocketing 400%, reflecting broader investor optimism.
The total NFT market capitalization jumped 94% to $6.6 billion in July, while weekly trading volumes increased 51% to $136 million – largely driven by Ethereum-collection dominance. Analysts note this rebound reverses a year-long slump spanning Q2 2024 to Q2 2025, marking a resurgence of confidence in established NFT projects.