NFT activity in July 2025 exceeded DeFi in daily active wallets, with NFTs recording 3.85 million compared to DeFi’s 3.84 million. This milestone marks a pivotal moment in the evolving crypto landscape, indicating a shift in user engagement from decentralized finance toward digital collectibles and tokenized assets [4]. The slight but significant edge for NFTs reflects broader blockchain adoption and suggests that the sector’s growth is not just cyclical but potentially structural [1].

The increase in NFT activity coincided with a record $270 billion in DeFi’s total value locked, driven largely by the rising interest in tokenized stocks and advanced decentralized applications [4]. While DeFi continues to expand in terms of financial utility, NFT platforms have seen a surge in both volume and user base, with key marketplaces like Blur reporting historic engagement levels. The platform noted that it captured 80% of daily NFT trading volume in July and plans further user-centric upgrades [4]. This performance suggests that NFTs are no longer seen merely as speculative assets but as active components of a broader, more diversified digital economy.

Ethereum’s network activity in July 2025 also saw a 70% increase in onchain transaction volume compared to June, reaching $238 billion. This growth was fueled by DeFi, smart contracts, and NFTs, with the network recording a record 1.74 million daily transactions—surpassing its previous peak in 2021 [2]. These metrics highlight Ethereum’s role as a foundational layer for the next generation of blockchain-based finance and digital ownership.

In terms of specific NFT collections, Cool Cats experienced a notable price surge, with the floor price rising 48% in a single day to exceed 0.74 ETH. The collection’s total trading volume reached $112 million during July [5], underscoring the growing liquidity and market depth in high-profile NFTs. Such activity is not an isolated event but part of a larger trend where NFTs are increasingly being integrated into financial markets and investment portfolios.

The momentum in Ethereum-based activity extended beyond NFTs and DeFi. By early August 2025, Ethereum’s market capitalization had surpassed that of Netflix, sparking discussions about its potential to challenge traditional financial institutions like Mastercard [6]. This milestone reflects the growing narrative of programmable money and blockchain-based finance overtaking legacy systems. Analysts suggest that Ethereum’s scalability improvements and reduced gas fees are attracting both institutional and retail interest, further solidifying its position in the digital economy [6].

Despite the positive momentum, risks remain. Volatility in the crypto markets, regulatory scrutiny, and macroeconomic factors like interest rate adjustments could act as headwinds. Traders are advised to closely monitor Ethereum’s price action and key resistance and support levels to assess the sustainability of its upward trajectory [6]. As the market continues to evolve, the interplay between NFTs and DeFi will remain a crucial indicator of broader adoption and sentiment trends.

Source: [1] title1: NFTs stage comeback with $530M in July trades, flipping DeFi user activity (url: https://www.coinmarketcal.com/tr/news/nfts-stage-comeback-with-530m-in-july-trades-flipping-defi-user-activity)

[2] title2: Ethereum onchain volume hits $238 billion in July 2025 up… (url: https://www.ainvest.com/news/ethereum-news-today-ethereum-onchain-volume-hits-238-billion-july-2025-70-prior-month-2508/) [3] title3: Ethereum hits record 1.74 million daily transactions as… (url: https://www.ainvest.com/news/ethereum-news-today-ethereum-hits-record-1-74-million-daily-transactions-staking-surge-drives-163-price-rally-2508/) [4] title4: Cryptocurrency Live News & Updates : Ethereum’s Rally (url: https://m.economictimes.com/crypto-news-today-live-09-aug-2025/liveblog/123195194.cms) [5] title5: Cool Cats NFT Prices Surge Following Strategic Investment (url: https://www.binance.com/en/square/post/08-09-2025-cool-cats-nft-prices-surge-following-strategic-investment-28080047705482) [6] title6: Ethereum (ETH) Surpasses Netflix, Eyes Mastercard (url: https://blockchain.news/flashnews/ethereum-eth-surpasses-netflix-eyes-mastercard-3-trading-signals-to-watch-now)