Some of the most popular NFT projects are seeing an increase in their floor prices, fueling speculation that the craze around these digital collectibles is growing. With its 10th anniversary tomorrow, Ethereum is kicking off a potential NFT season by introducing its NFT Torch.
CryptoPunks and Moonbirds Floor Price Surge Signals Potential NFT Season Return
Data from the OpenSea NFT marketplace shows that the floor price of CryptoPunks has increased by nearly 8% to 53.85 ETH as of this writing. This surge coincides with the growing NFT craze around Ethereum blockchain’s popular NFTs.
Analysts are pointing to an ongoing buying frenzy around CryptoPunks. One user purchased 6 digital collectibles worth over $1.3 million in the early hours of the Asian session. Similarly, Moonbirds NFTs are experiencing increased interest, reinforcing the perception that an NFT season might be here.
However, for Moonbirds, sellers are quickly moving to take early profits. Data from OpenSea indicates that the floor price has dropped by over 20% in the last 24 hours.
Despite this, the floor price of Moonbirds NFTs remained over 300% up last month, reinforcing expectations for a booming NFT season. In this context, some users suggest that Moonbirds could lead the NFT comeback.
“Moonbirds seems to be making one of the biggest NFT comebacks,” wrote Sennin, a financial analyst and NFT trader.
Beyond CryptoPunks and Moonbirds, traders are also examining the CloneX NFT, which saw its floor price double over the weekend. Given its previous downtrend, triggered by Nike’s closure of its parent company (RTFKT) in late 2024, the recovery in its floor price indicates renewed interest.
“Recent comments from one of the RTFKT founders and Nick, who first broke the news of the closure, hint at a possible CTO or sale of the project. It seems speculation is brewing about a similar scenario to Moonbirds’ recent comeback (20x since the purchase),” wrote Wale.moca, an NFT researcher at Azuki.
Nevertheless, Wale.moca urges users to curb their optimism due to allegations linking CloneX to insider trading claims. In an environment of FUD (fear, uncertainty, and doubt), the NFT researcher notes that other market competitors like Pudgy Penguins (PENGU) and Moonbirds NFTs could overshadow Clone X.
Ethereum’s NFT Torch Reignites Digital Collectible Craze
In retrospect, Ethereum initiated the NFT revival a little over a week ago with the launch of its NFT Torch. Following this move, capital began flowing into NFT projects, and talks of an NFT season have been ongoing ever since.
Data from Ethereum.org shows that Anthony Sassano, founder of Daily Gwei, is the current owner of Ethereum’s NFT Torch. Sassano took over the flag from Alex Bornyakov of Ukraine. Following Ethereum’s NFT Torch announcement, one user purchased 45 CryptoPunks NFTs for nearly $8 million.
While Pudgy Penguins was in the spotlight during the PENGU ETF, it was inadvertently harmed amid speculations that capital would return to the oldest NFT projects.
Elsewhere, some users are exercising caution, showing measured attention to the possibility that the NFT bubble could burst as quickly as it has grown in recent days.
“Are we betting on Moonbirds going up again, or is this just another hype cycle?” questioned Rivi, a popular user on X.
This skepticism is well-placed, given the impact of minor triggers on NFT floor prices. For instance, Ozzy Osbourne’s CryptoBatz NFT collection gained over 400% in value after his passing.
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