A massive whale sweep of 45 CryptoPunks sparked fresh momentum across top NFT collections.
While the market spotlight is on altcoins, NFTs are apparently not to be outdone and are making a comeback. According to CoinGecko, in less than 24 hours, the NFT market cap surged 28%, breaking through the $6.7 billion mark.
In fact, at the beginning of 2025, the NFT sector was considered moribund — low volume, low interest, and many projects seemingly stalling. But apparently, the market had other plans.
The key was one major move that caused quite a stir: a whale swept up 45 CryptoPunks in one fell swoop, pouring in approximately $5.9 million. The result? The floor price of CryptoPunks immediately shot up by around 16%.
Not only that, but iconic collectibles like Pudgy Penguins also saw a boost, recording a 15% increase. This surge was a strong signal that market appetite was beginning to turn around after a somewhat sluggish first quarter.
Furthermore, NFT trading volumes were also heating up. CoinGecko recorded a daily volume spike of nearly $47 million. It feels like the NFT market has been given a supercharged boost: Ethereum dominates the majority of transactions, and many high-profile collections are suddenly active again.
Some analysts even see this as the beginning of a massive capital rotation from major cryptocurrencies, like Bitcoin, to the NFT sector.
On the other hand, CNF reported a few days ago that legendary rapper Snoop Dogg managed to sell nearly 1 million NFTs directly via Telegram. In just 30 minutes, he raked in around $12 million. The collection was inspired by Snoop’s own lifestyle — classic cars, marijuana, swag bags, and digital dogs.
Interestingly, his NFTs can be displayed on Telegram profiles and can even be converted into “Stars,” a sort of social feature on the platform.
Meanwhile, the gaming sector is also starting to show signs of life. On July 16, Charlie Guillemot, son of Ubisoft’s CEO, came back into the spotlight.
After founding an AI and NFT startup called Unagi, he’s now returned to Ubisoft and was immediately appointed co-CEO of a new division handling major games like Assassin’s Creed and Far Cry. Interestingly, Tencent has joined the team as an investor. What does this mean? NFTs and AI technology appear to be starting to infiltrate the traditional gaming world even more.
The combination of all these events makes the NFT market feel far from stagnant. This is especially true as major players, from global artists to gaming industry executives, begin to make their mark again. While not all of them are sustainable, moments like these are always crucial points in the crypto cycle. Sometimes the rise can be gradual, but sometimes — as now — they can suddenly explode without warning.
Is this the beginning of a new spring for NFTs? It’s probably too early to tell. But judging by the surge in capitalization, the crazy transaction volume, and the renewed interest from many, it seems the NFT ecosystem could be on the verge of a resurgence.
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