In July, the market capitalization of the non -fungible tokens market (NFT) reached an unexpected peak of $ 6.6 billion, a spectacular flight of 94 % compared to the previous month. A rebound that owes nothing to chance. It is indeed carried by emblematic figures of the web3 such as cryptopunks, and a new wave of speculative and cultural interest.
In short
- The NFT market reached $ 6.6 billion, an increase of 94 % in a month.
- Cryptopunks dominate the rebound with a flight of 53 % of their floor price, culminating at nearly $ 180,000.
- Other Ethereum projects such as Pudgy Penguins and Cryptobatz also experience a dazzling boom.
The NFT market is reborn from its ashes
In May, the NFT seemed to get bogged down in a descending spiral, accusing a worrying decline. But against all odds, June marks a spectacular reversal. The latter is carried by a market dynamic which thwarts the most cautious predictions.
Dappradar, one of the most reliable barometers of the crypto ecosystem, notes a weekly increase of 51 % of transactions volumes, culminating at $ 136 million. It is indeed, a record since February.
This revival of activity contrasts with a downward trend that has persisted for over a year. Indeed, we noted volumes of exchanges in decline quarter after quarter. This reversal suggests a dynamic deeper than a simple technical rebound: the NFT may not be dead, but indeed changing.
The public, more demanding, seems today to favor collections with strong symbolism or real utility. This is where Ethereum comes into play with the majority of the most rated NFT collections, including cryptopunks, Pudgy Penguins and cryptobatz.
Its robustness, liquidity and notoriety give projects based on Ethereum a decisive advantage in the race for capitalization.
The crypto, in all its volatility, loves brilliant rebirths. And the NFTs seem to offer a worthy representation.
Cryptopunks: symbol of a status that currency
Among the leading figures of this resurgence, cryptopunks are distinguished. Their floor price jumped 53 %. He reached almost $ 180,000 per unit, or 47.5 ETH. More than a collection of pixels, punks have become a marker to the elite of the web3. As Sara Gherghelas points out DAPPRADAR:
For some, having a punk is simply a matter of status. And right now, this status is trendy.
The purchase of punk #5577, a cowboy APE, for $ 5.15 million in actions favored by Gamesquare Holdings, illustrates how these NFT can serve as a strategic lever. This copy, originally acquired for $ 454 in 2017, had already reached $ 7.7 million in 2022.
For their part, Pudgy Penguins, with their good -natured aesthetics, temporarily dethroned punks in weekly volume. They crossed the 20 million dollars mark in transactions. A performance that illustrates the diversity of crypto public tastes.
Even more surprising: the outbreak of cryptobatz, following the announcement of the death of Ozzy Osbourne. In the space of a few hours, sales of these dark aesthetics have climbed 400 %.
Ethereum continues to dominate the technical infrastructure and the cultural legitimacy of the market. Indeed, NFT on Ethereum sales exploded at more than $ 100 million. Therefore, the NFTs are no longer simple JPEG. They become vectors of reputation, narration and innovation in the crypto ecosystem.
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