CryptoPunks lead an NFT market resurgence as Ethereum price climbs. Discover how whale activity, rising volumes, and legacy collections are sparking a new NFT bull run.
The non-fungible token (NFT) market is roaring back to life, driven by a resurgent Ethereum and a spectacular whale acquisition that has reignited interest in flagship collections.
At the center of this rally is CryptoPunks, one of the most iconic NFT projects in the ecosystem, which has seen its floor price jump nearly 20% following a high-profile mass purchase.
Whale Purchase Sends CryptoPunks Soaring
On July 21, 2025, an anonymous high-net-worth investor made headlines after sweeping 45 CryptoPunks NFTs in under two minutes on OpenSea via Reservoir, spending a staggering 2,082 ETH (around $7.8 million).
This action sent the CryptoPunks floor price from 41 ETH to 47.5 ETH, a 15.9% increase within 24 hours.
According to on-chain data from Nansen and Lookonchain, the buyer’s wallet was newly created on July 18, 2025, and appears to have been funded by a large exchange wallet, suggesting sophisticated capital movement.
Within just five hours, a total of 76 CryptoPunks changed hands, marking the most significant sweep since the project’s peak hype in 2021.
The result? A single-day trading volume spike of 6,373 ETH, an 8,187% surge, and total NFT sales for the collection reaching 135 units, according to CryptoSlam.
Market-Wide NFT Momentum Builds
The CryptoPunks event sparked renewed enthusiasm across the broader NFT landscape. The total NFT market capitalization jumped 16.9% to $6.04 billion, its highest level since February 2025. Daily sales volume shot up 154% to $41.4 million.
Several other top NFT collections also saw substantial gains:
1. Pudgy Penguins: Floor price surged 90% in two weeks, from 8.5 ETH to 16.2 ETH, supported by community growth and strong branding, including physical toy expansion.
2. Moonbirds: Originally launched by Kevin Rose in 2021, the project staged a massive comeback with floor prices climbing 280% from 0.5 ETH to 1.9 ETH. The resurgence is credited to new ownership under Orange Cap Games and the broader ETH rally.
3. Bored Ape Yacht Club (BAYC): Despite only a 3% gain, BAYC maintained its position as a cultural cornerstone of the NFT ecosystem. Its steady price in turbulent markets signals maturity and enduring demand.
NFT Market Today: Different Than the 2021 Boom
Unlike the speculative frenzy of 2021–2022, today’s NFT rally is shaped by a more matured ecosystem:
1. Focus on Legacy Projects: The current action revolves around established collections like CryptoPunks and BAYC, rather than hype-driven new mints.
2. ERC-20 Token Integration: Many collections now offer fungible tokens, such as Pudgy Penguins (PENGU), which soared 18.5% recently, hitting a $2.3 billion market cap. Other tokens from NFT ecosystems like APE (BAYC), DOOD (Doodles), CULT (Milady), and ANIME (Azuki) have gained between 3–30% in the last 24 hours.
3. Improved Infrastructure: Platforms like the Ronin Network have upgraded NFT support, allowing gamers and traders to move larger batches of assets more efficiently.
Despite the presence of memecoin volatility and fragmented market sentiment, investors appear to be rotating back into NFTs, especially Ethereum-based ones, in anticipation of broader crypto growth.
Ethereum as the Backbone of the NFT Revival
Ethereum’s price, which recently broke above $3,800 for the first time since February 2024, has been a strong tailwind for NFTs. ETH has surged 133% over the past three months, fueled by:
1. A renewed institutional interest in DeFi and tokenization.
2. A drop in Bitcoin dominance, allowing Ethereum and altcoins to thrive.
3. Increased activity in NFTs, which still predominantly operate on the Ethereum network.
Analysts note that this interconnection between ETH’s rally and NFT resurgence suggests digital collectibles remain undervalued relative to the broader market. A return to NFT season could help Ethereum retest its all-time highs.
No Incentives, Just Demand: What This Means
Interestingly, this wave of interest in CryptoPunks came without any marketing push, airdrops, or reward programs.
The move appears purely driven by market confidence and whale conviction, a sign that digital collectibles are regaining their status as viable store-of-value assets in a bullish crypto cycle.
Retail activity is also up. NFTPriceFloor data shows average sale prices ranging between $80–$100, and active monthly users grew by 20% from the previous quarter, reaching an average of 668,598 traders.
This combination of whale accumulation and growing grassroots engagement signals a more organic recovery compared to the speculative manias of the past.
Conclusion
The NFT market’s resurgence, led by CryptoPunks, Pudgy Penguins, and Moonbirds, illustrates a maturing sector riding the coattails of Ethereum’s strength.
With floor prices rising, volumes spiking, and renewed community engagement, NFTs are not just making a comeback, they’re evolving.
As the crypto markets continue to recover, digital collectibles could serve as early indicators of broader bullish sentiment.
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This press release has also been published on VRITIMES
