The NFT market welcomes a new round of recovery

Recently, the NFT market has shown clear signs of warming up. After several months of sideways consolidation, the market has finally started to rebound: the floor prices of multiple projects have risen, the overall market value has recovered, and some emerging projects have even started to surpass established NFTs. From Pudgy Penguins surpassing BAYC, to Art Blocks making an unexpected comeback, the market atmosphere is undergoing positive changes.

Market Overview

In July, the NFT market performed brilliantly:

• Market capitalization surged by 94%, reaching nearly $7 billion, a new high since early 2025.
• Weekly trading volume increased by 51%, reaching $136 million, making July likely to be the best-performing month since February.
• The average price of NFTs increased by 40% over 7 days, reaching $146.
• The trading volume increased by only 7%, indicating that traders are shifting towards high-value assets.

Popular NFT Categories

In the past week, PFP NFTs have performed the best, accounting for 37% of the total trading volume. Next are RWA NFTs, which make up 11%, indicating that the concept of tokenization remains attractive. However, NFTs in the sports, music, and fashion sectors have not followed the overall market's rise. Although gaming NFTs performed steadily in the second quarter, their popularity has declined recently.

Eye-catching NFT projects

Pudgy Penguins: A New Heavyweight Collection

Pudgy Penguins' market value surpasses BAYC, second only to CryptoPunks. Its floor price has increased by 539% since its launch, with another 7% rise in the past week. The key to the project's success lies in seizing the opportunity, from IRL benefits to connecting Web2 and Web3, and expanding in Asia through plush toys; the brand strategy is well-executed.

CryptoPunks: Return to the Spotlight

The floor price of CryptoPunks rose by 53% this week, remaining one of the most actively traded collectibles. As the gold standard of Web3 influence, CryptoPunks not only represent investment value but also serve as a symbol of identity, a status that is increasingly being recognized.

Moonbirds: Unexpected Rebound

Moonbirds has performed strongly recently:

• The floor price has increased by 60%
• Trading volume surged by 600%

This rebound is due to the acquisition by the new owner Orange Cap Games and the collaboration with Towns. Holders can now access the private chain space and increase their points before the airdrop. Nevertheless, the dollar value of Moonbirds has still dropped by 64% since its issuance, and there is still room for future development.

Art Blocks: Quiet Return

Art Blocks returns to the ranks of the highest trading volume collectibles, with an average price surge of 156%. On July 10, the platform launched a major update, including collector profiles, wallet aggregation, achievement systems, etc., significantly enhancing user experience. Top projects like Fidenza have regained attention, and artistic elements are once again the focal point of NFT discussions.

Outlook

The accelerated development of PFP and art NFTs may herald the arrival of the next NFT bull market. Although it is still too early to draw conclusions, positive signals have already emerged. The market is shifting, and investors' attention is refocusing on the NFT space. The market trend in the coming week is worth looking forward to.