Ethereum-based NFT sales experienced a significant resurgence in July, surging 47.6% month-over-month to reach a total of $574 million. This robust growth signals a potential shift in the market’s dynamics towards maturity and value appreciation.
The average sale price during this period climbed sharply to $113.08, representing the highest value recorded in the past six months. This notable increase points towards collectors focusing on higher-value assets.
Contrasting the upward trend in sales value, the total number of NFT transactions actually decreased by 9%, settling at approximately five million for the month. This divergence suggests a maturing market where the emphasis is shifting from sheer transaction volume towards acquiring higher-quality, more valuable digital assets.
Ethereum cemented its position as the leading blockchain for NFTs, hosting all of the top 10 collections ranked by market capitalization without exception.
Industry analysts attribute this sales surge to several key factors, including a renewed confidence among investors, continued innovation particularly in utility-driven NFTs, and an improving macroeconomic climate that is encouraging investment in digital assets.