The NFT market is witnessing a robust recovery driven by substantial gains in leading collections and surging trading activity. Blue-chip NFTs spearhead the rebound, with CryptoPunks and Pudgy Penguins recording significant price appreciation and investor inflows.
CryptoPunks saw its floor price jump 15.9% to 47.5 ETH (approximately $179,000), accompanied by 83 new NFT acquisitions. Pudgy Penguins surged over 15% to 16.6 ETH ($62,597), attracting 100 new holders who purchased NFTs during the uptrend.
The broader NFT market experienced a 21.2% increase in total market capitalization, now valued at $6.34 billion. Daily sales volume skyrocketed 303% to $38.7 million, signaling renewed market vigor.
High-profile NFT releases contributed to the momentum, with celebrities like Snoop Dogg selling out nearly 1,000 NFTs through the Telegram platform. Investor optimism continues to strengthen, fueled by heightened community engagement and nostalgia for the 2021 NFT boom.
This resurgence highlights growing confidence in digital collectibles as key projects demonstrate renewed liquidity and price stability.