Ethereum’s (ETH) recent price movement has sparked fresh momentum across the non-fungible token (NFT) space. Over the past two weeks, the cryptocurrency surged more than 50%, fueling renewed activity on platforms built on its network. This upswing has led to a strong recovery in Ethereum-based NFT trading, reaching its highest level since mid-January.
Fresh data from Crypto Slam shows that Ethereum NFT sales exceeded $100 million over the past week, reflecting a rise of approximately 62%. The number of individual buyers also rose, climbing more than 27% during that period. Meanwhile, figures from The Block indicate that Ethereum NFTs alone accounted for $75 million out of the $143.5 million traded across the major chains in the last week, showing ETH’s clear dominance in NFT volume.
The NFT market is showing signs of recovery after a prolonged slowdown since its peak in 2021. Trading volumes dipped significantly over the past years, but recent gains — especially on Ethereum — suggest a return of confidence among participants.
One standout moment in the recent NFT resurgence came when a single wallet snapped up 45 CryptoPunks in one day, spending 2,082 ETH. The size and speed of the transaction drew attention across the market, reinforcing signs of high-value interest returning.
This recent activity has contributed to pushing the overall NFT market valuation past the $6 billion mark. Data from CoinGecko shows the market capitalization has climbed more than 23%, while trading volume surged over 320% in the past 24 hours.
A crypto market analyst on X noted that Ethereum NFT volume for the month has grown by more than 300%. That increase follows a sharp climb from late June, when Ethereum NFTs rose from just $18.27 million in volume to $75 million. Bitcoin-linked NFTs have also gained momentum, increasing from $11.03 million to $25.6 million within the same period.
The renewed interest in NFTs comes as the broader crypto market strengthens. Rising coin prices, increased liquidity, and improving sentiment appear to be drawing participants back into NFT trading. Ethereum’s role as the leading blockchain for NFTs positions it to benefit most from this return of demand.
Meanwhile, within the non-fungible token space, some structural changes have taken place among leading players. Earlier this year, the firm behind the Bored Ape Yacht Club collection, Yuga Labs, made a clear move to streamline its focus. The company stepped back from several major NFT properties it had previously taken control of. Collections like CryptoPunks, Meebits, and Moonbirds were passed on to new ownership. The move signals a change in direction as the company narrows its focus and streamlines its efforts on developing its virtual platform, Otherside.
If the broader crypto market maintains its upward path, non-fungible tokens are likely to follow. ETH’s ongoing rise has played a key role in lifting activity across the space, especially after a period of steep declines. Gains in volume, pricing, and overall value point to strengthening momentum, even as the sector remains cautious. In the last 24 hours, Ethereum has also extended its climb, adding over 2% and trading above $3,700 at the time of writing.
