Ethereum NFT Market Cap Soars 21% to $6.3B as CryptoPunks Lead Revival

The NFT market experienced a significant resurgence on July 24, 2025, with its total market capitalization surging by 21% from $5.1 billion to $6.3 billion in just one day. This remarkable rally was primarily driven by renewed interest in Ethereum-based NFT collections, marking an end to months of stagnation. A key catalyst behind this revival was a high-profile buying spree of CryptoPunks, one of the most iconic NFT collections on the ethereum blockchain. On-chain data revealed that a newly created wallet, identified as 0x1bb3, spent a staggering 2,082 ETH (approximately $5.87 million) to acquire multiple CryptoPunks. This substantial investment not only boosted the floor prices of these digital assets but also reignited confidence in the broader NFT market. The Ethereum ecosystem, long considered the backbone of the NFT space, demonstrated its enduring appeal as traders and collectors flocked back to blue-chip projects. Analysts suggest this could be the beginning of a new bullish phase for NFTs, with Ethereum continuing to play a pivotal role in the digital collectibles market. The sudden influx of capital into Ethereum-based collections indicates strong institutional and whale interest, potentially signaling a broader recovery in the crypto art and collectibles sector. As the market cap approaches previous all-time highs, many are watching closely to see if this momentum can sustain and possibly surpass the NFT mania witnessed in previous years.

NFT Market Cap Surges 21% to $6.3B as Ethereum Collections Spark Revival

The NFT market erupted with activity on Monday, witnessing a 21% surge in total market capitalization—climbing from $5.1 billion to $6.3 billion overnight. The rally was fueled by renewed interest in Ethereum-based collections, ending months of stagnation.

A high-profile CryptoPunk buying spree served as the primary catalyst. On-chain data reveals a newly created wallet, 0x1bb3, spent 2,082 ETH ($5.87 million) to acquire 45 CryptoPunk NFTs within hours. The wallet now holds assets valued at over 1,700 ETH ($6.5 million) on OpenSea.

CryptoPunks dominated the rally, with floor prices jumping 14% to $175,320. The project topped 24-hour sales volume at $14.7 million—an 11,143% daily increase. Other Ethereum collections followed suit: Moonbirds rose 31.1%, Pudgy Penguins gained 2.7%, and Bored Ape Yacht Club climbed 6.9%. Niche projects like Infynex Patron advanced 9.4%.

The broad-based uptick signals shifting sentiment as capital rotates back into blue-chip NFTs. Market participants are interpreting the whale activity as a bullish signal for Ethereum's digital collectibles ecosystem.

Ethereum Validators Rally Behind Gas Limit Increase to 45 Million, Boosting Network Throughput

Ethereum's transaction processing capacity is climbing as validators signal strong support for raising the network's gas limit to 45 million units. The weekend saw the gas limit rise 3% to 37.3 million, with some blocks proposing even higher thresholds—marking the first significant increase since February's jump from 30 million to 36 million.

Throughput on Ethereum's base LAYER has correspondingly improved, with transactions per second approaching 18 over the weekend according to Chainspect data. This continues an upward trend from February's 15 TPS baseline. The scaling push gains legitimacy as nearly half of staked ETH now backs the grassroots 'pump the gas' campaign, with Vitalik Buterin noting 47.2% validator approval for the 45 million target.

Higher gas limits enable more transactions per block, reducing fees and improving network efficiency. Validators can autonomously adjust limits by 0.1% per block when consensus emerges—a feature now being tested as Ethereum's ecosystem prepares for its next growth phase.

Ethereum Faces Potential Pullback Amid Overheated Futures Market

Ethereum's recent rally to just above $4,000 has been fueled by strong spot ETF inflows and corporate buying, but the market shows signs of exhaustion. The Relative Strength Index (RSI) is overheated, and 95% of ETH supply is in profit—a classic signal for potential profit-taking. Derivatives now dominate daily trading volumes, raising concerns this surge could be a leverage-driven bubble.

Weekly charts highlight two critical resistance levels at $2,850 and $3,750, the latter acting as a liquidity pocket that may trigger short-term reversal. Despite seven consecutive days of gains totaling 27.4%, the surging futures basis and lack of proportional spot activity heighten risks of a sharp correction. Large holders continue accumulating, but retail traders should tread carefully.

Trump Bets Big on Ethereum (ETH)—Is He Seeing the Future

Ethereum (ETH) is emerging as a dominant force in the cryptocurrency market, currently trading at $3,779 with a 3% gain. The token's steady accumulation of momentum suggests a potential for significant upward movement, despite periods of stagnation.

U.S. President Donald Trump's cryptocurrency portfolio has drawn attention, with Ethereum comprising 93% of his holdings. This heavy allocation raises questions about Trump's insights into ETH's future role in the U.S. financial landscape. Market speculation is fueling bullish sentiment, as traders interpret Trump's accumulation as a signal of institutional confidence.

The convergence of Ethereum's technical strength and high-profile political endorsement creates a compelling narrative for the asset's growth trajectory. Market participants are now closely watching whether ETH can capitalize on this momentum to reach new price targets.

Ethereum Celebrates 10-Year Anniversary with NFT Torch and Market Dominance

Ethereum marks its 10-year anniversary with a symbolic NFT torch initiative, embodying its decentralized ethos. The digital relay, launched on July 21st, began with co-founder Joseph Lubin and will traverse wallets of key community members before concluding on July 30th. A commemorative NFT will be available for public minting, cementing the milestone.

Amid the celebrations, Ethereum continues to lead the NFT market, boasting $75 million in trading volume. ETH's price and market cap have surged, reflecting sustained investor confidence. The network's decade-long journey from a cryptocurrency to a decentralized internet foundation remains a testament to its enduring influence.

Ethereum's Fusaka Hard Fork Nears Completion Amid Network Upgrades

Ethereum's Fusaka hard fork is on track for a November rollout, featuring EIP-7825 to bolster network security against malicious attacks. A proposed gas limit increase to 150M aims to enhance throughput, though proposals like EIP-7907 were scrapped to expedite testing.

The upgrade builds on the Pectra hard fork's advancements, including account abstraction and improved layer-2 efficiency—critical steps in Ethereum's competition with rival blockchains for DeFi dominance. Developer Nixo highlighted tight deadlines ahead of November's Devconnect event, urging client releases within ~1.5 months.

Following Fusaka, the Glamsterdam upgrade—now in final development—will further refine Ethereum's infrastructure. These iterative improvements underscore Ethereum's commitment to scalability and security as DeFi demand grows.