The NFT market posted a 40% surge in sales volume, reaching $221.5 million in the week ending July 17, 2025, marking its strongest performance in months amid a broader crypto market rally [1]. This growth was fueled by an unprecedented 590% spike in demand for , the seminal 2017 NFT collection. The collection generated $33.7 million in sales for the week, reclaiming its position as the top NFT project. Five of the week’s highest NFT sales were CryptoPunks, with the most expensive—CryptoPunks 4668—selling for 250 ETH ($906,371).

The surge reflects renewed interest in blue-chip NFTs as status symbols and long-term investments. Despite the broader crypto market’s volatility, NFTs have demonstrated resilience, with high-profile collections attracting both retail and institutional attention. The week also saw Ethereum (ETH) rise 4.5% to $3,700, while the global crypto market cap stabilized at $3.87 trillion.

Key blockchain networks contributed to the growth. Solana (SOL) and Binance Smart Chain (BNB) saw notable buyer and seller increases, with Polygon leading the trend at 359.06% growth in buyer activity. However, NFT transaction counts dipped by 4.05% to 1.53 million, signaling a shift toward higher-value trades rather than volume-driven activity.

The CryptoPunks phenomenon highlights the market’s cyclical nature. While the collection’s floor prices have spiked, buyer and seller counts for the project fell sharply (down 85.10% and 97.45%, respectively), indicating consolidation among high-net-worth participants. Meanwhile, other blue-chip collections like returned to prominence, surging 55.32% to $5.4 million in sales.

Analysts attribute the NFT rebound to Ethereum’s ecosystem expansion and the launch of BlackRock’s Ethereum ETF, which rapidly amassed $10 billion in assets [1]. This institutional validation has bolstered confidence in Ethereum-based assets, including NFTs. Strategic developments, such as Christie’s foray into crypto real estate and infrastructure upgrades on platforms like Particle Network, further underscore the sector’s maturation beyond speculative trading.

Yet, challenges remain. The market’s reliance on Ethereum’s performance and regulatory uncertainties could temper long-term growth. Coinbase executives noted that rising Ethereum exit queues—tokens being transferred out of wallets—often precede market peaks, suggesting a potential inflection point [1]. Additionally, while legacy NFTs like CryptoPunks dominate sales, newer projects with utility-driven models (e.g., Zora) are gaining traction, offering a contrast to older, purely collectible assets.

The coming weeks will test the sustainability of the current rally. Metrics such as OpenSea transaction volumes, Ethereum on-chain activity, and crypto ETF performance will be critical. For now, the data underscores a pivotal shift: NFTs are regaining relevance as both cultural artifacts and financial assets, driven by nostalgia, technological innovation, and macroeconomic tailwinds.

Source: [1] [title1NFT sales skyrocket 40% to $221m, CryptoPunks jump 590%] [url1https://crypto.news/nft-sales-skyrocket-40-to-221m-cryptopunks-jump-590/]