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14/08/25 00:53 UTC-04

NFT Market Capitalization Surpasses $9.3 Billion Fueled by ETH Price Growth

The total market capitalization of NFT collections has reached $9.3 billion, up 40% from July’s $6.6 billion. A key driver of this growth is the rising price of Ethereum, which recently surpassed $4,000 and continues its upward trajectory.

Since many NFTs are launched on the Ethereum network, their sales and valuation are denominated in ETH. Consequently, the growing popularity of the cryptocurrency boosts market value and activity in the non-fungible token space. At the time of writing, the 10 largest NFT assets by market capitalization were all issued on Ethereum.

CryptoPunks retains its position as the most popular NFT collection by market capitalization. Data on the floor price shows the collection is valued at no less than 526,900 ETH (approximately $2.4 billion). Over the past seven days, CryptoPunks trading volume reached nearly 4,200 ETH, worth $20 million, with 90 NFTs sold during the week at an average price of $217,331 each.

Bored Ape Yacht Club (BAYC) follows CryptoPunks in ranking with a valuation of $602 million, and Pudgy Penguins comes third at $591 million. BAYC leads in total valuation, while Pudgy Penguins ranks first in trading volume over the past week. According to DefiLlama, Pudgy Penguins’ seven-day trading volume was $8.7 million, compared to $6.3 million for BAYC.

In addition to these three collections, the top 10 NFT collections by market capitalization include Chromie Squiggle from Art Blocks, Autoglyphs, Fidenza by Tyler Hobbs, Lil Pudgys, Mutant Ape Yacht Club (MAYC), Moonbirds, and Milady Maker.

See also: "Major Financial Institutions Conduct First On-Chain Transaction with U.S. Treasury Bonds"

#Capitalization #NFT #Ethereum (ETH)

Editor: Pereyidenko Ihor
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