Investors are flocking back to non-fungible tokens (NFTs) following a major single-day buying spree of top-tier collections on Sunday, driven by renewed momentum in the crypto market.
According to CoinGecko, CryptoPunks—the largest NFT collection by market cap—saw its floor price jump 15.9%, rising from 40.9 ETH to 47.5 ETH (over $179,000). A total of 83 CryptoPunks were acquired by new holders in just one day.
Pudgy Penguins, the second-largest collection, also saw a significant boost, with its floor price climbing more than 15% to 16.6 ETH (about $62,597), as 100 new buyers swept up the NFTs on Sunday.
Completing the top three, the Infinex Patrons NFT collection—which gives holders governance rights within the Infinex protocol—rose 9.4% to 1.4 ETH (roughly $5,241).
Other NFT collections also posted impressive gains, with the YOU THE REAL MVP collection—serving as the premium membership within the Memeland ecosystem—leading the surge with a staggering 1,280% increase.
Broader NFT market on the rise
The overall NFT market cap has surged 21.2% in the past 24 hours, reaching over $6.34 billion, while daily sales volume skyrocketed 303% to $38.7 million, according to CoinGecko.
This marks a dramatic turnaround from just a few months ago. In April, Cointelegraph reported that NFT trading volumes had plummeted 61% in the first quarter of 2025, falling to $1.5 billion.
The downturn followed what was widely considered the NFT market’s worst year since 2020, plagued by extreme volatility and surging token prices that dampened trading activity.
NFT comeback
Speculation is mounting on X that the recent surge signals a true comeback for the NFT market after years of decline following the 2021 boom.
NFT community member “Cirrus” joked in a post on Sunday, “Saw someone buy a floor Mutant and immediately change their bio to full-time Web3 adviser/consultant. We might actually be back.”
Investor and former banker Tyler Warner, known on X as TylerD, suggested the market’s resilience may be underestimated, saying, “A lot of you are underestimating how much the 2021 class loves NFTs.”
Blockworks co-founder Jason Yanowitz added to the buzz, noting that NFTs are “moving like there are NFT treasury vehicles on the horizon.”
Digital artist Beeple, who famously sold “Everydays: The First 5000 Days” for $69 million in 2021, marked the moment with a new artwork titled “Big Sweep,” celebrating the renewed momentum.
Experts had been forecasting a resurgence in the NFT market
In May, CryptoSlam strategist Yehudah Petscher told Cointelegraph that he believed the NFT market was on the verge of a rebound, though he expected it to be more measured compared to the explosive growth seen in earlier cycles.
Similarly, DappRadar analyst Sara Gherghelas noted in a May report that while the NFT sector holds strong potential for a comeback, it would require fresh catalysts to fully regain momentum—highlighting real-world asset integration as a key driver.
Adding to the renewed optimism, American rapper Snoop Dogg sold out a nearly 1,000-piece NFT collection on Telegram in just 30 minutes on July 9, fueling further speculation about a potential market revival.
