Ethereum Boom Propels NFT Market Cap to $9.3 Billion

Metaverse Planet August 14, 2025Last Updated: October 31, 2025

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The rapid rise in the price of Ethereum has boosted the value of NFT collections, causing their market capitalization to grow by 40% since July. The NFT sector has reached a market value of over $9.3 billion, with the value of Ethereum-based collections increasing in tandem with Ether’s price.

According to NFT Price Floor, an NFT data tracker, the total market capitalization of NFT collections reached $9.3 billion on Wednesday, marking a 40% increase from July. Data from DappRadar shows that the market value of NFTs last month was $6.6 billion.

Ether, which recently surpassed the $4,000 threshold, has been the main driving force behind the rise in the NFT market. According to CoinGecko, ETH was trading above $4,600 at the time of writing, with a market capitalization of over $557 billion.

Since many NFTs are on the Ethereum mainnet, their sales and valuations are denominated in ETH. Consequently, the rising momentum of the crypto asset translates into higher market values and increased activity in the NFT space. At the time of writing, the top 10 NFT assets by market cap were all Ethereum-based.

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NFT Market Cap Jumps 40% Since July

CryptoPunks maintains its position as the largest NFT collection by market value. Data from NFT Price Floor indicates the collection is worth at least 526,900 ETH (approximately $2.4 billion).

In the last seven days, CryptoPunks has seen a transaction volume of nearly 4,200 ETH, valued at about $20 million. The collection had a total of 90 sales during the week, with an average price of $217,331 per NFT. Following CryptoPunks, Bored Ape Yacht Club (BAYC) is in second place with a valuation of $602 million, with Pudgy Penguins close behind at $591 million.

Pudgy Penguins Added to Crypto Treasury

Although BAYC leads in valuation, the Pudgy Penguins collection surpassed BAYC in seven-day transaction volume. According to DefiLlama, Pudgy Penguins achieved a volume of $8.7 million last week, while BAYC’s volume was $6.3 million.

Speaking to Cointelegraph, Pudgy Penguins CEO and owner Luca Schnetzler (known as Luca Netz) said that the collection’s transformation into a physical toy brand saved the company from bankruptcy in 2022. Since then, the collection has become a leading NFT brand, competing with other blue-chip collections.

This week, the blockchain company BTCS Inc. announced that it had added three Pudgy Penguins to its corporate treasury. In addition to these three, the top 10 NFT collections by market cap also include Art Block’s Chromie Squiggle by Snowfro, Autoglyphs, Fidenza by Tyler Hobbs, Lil Pudgys, Mutant Ape Yacht Club (MAYC), Moonbirds, and Milady Maker.