Million-Dollar CryptoPunks and Penguins Acquisitions Ignite the NFT Market
Leading NFT collections like CryptoPunks and Pudgy Penguins are once again attracting investor interest, riding the wave of the recent crypto rally. The surge in the crypto market and the intense, single-day purchases of valuable NFT collections have redirected investors back to non-fungible tokens (NFTs).
According to CoinGecko data, CryptoPunks, the largest NFT collection by market capitalization, saw its floor price jump by 15.9%, from 40.9 Ether to 47.50 ETH, which is equivalent to over $179,000. A remarkable 83 CryptoPunks were acquired by new owners in just one day.
Pudgy Penguins, the second largest collection by market cap, also experienced a significant rise, increasing by over 15% to 16.60 Ether ($62,597), thanks to 100 new owners who “swept” its NFTs on Sunday.
Completing the top three collections, the Infinex Patrons NFT collection, which grants owners governance voting rights on the Infinex protocol, saw its price increase by 9.4% to 1.4 Ether ($5,241). Other collections also recorded substantial gains. The You The Real MVP collection, which provides membership in the Memeland ecosystem, topped the list with a staggering 1,280% increase.
Overall NFT Market on the Rise
The overall NFT market capitalization also saw a 21.2% increase in the last 24 hours, climbing above $6.34 billion. Total sales volume, according to CoinGecko, surged by 303% on a daily basis, reaching $38.7 million. This marks a significant shift from just a few months ago. Cointelegraph reported in April that NFT volumes had dropped by 61% to $1.5 billion in the first quarter of 2025.
Last year was recorded as the market’s worst year for NFT trading volume and sales since 2020, overshadowed by price volatility and increasing token prices.
NFTs Making a Comeback
Users on X (formerly Twitter) are suggesting that the recent surge might be a sign of the NFT market’s resurgence after years of decline following the peak of the 2021 cycle.
“I saw someone pick up a mutant at floor and immediately change their bio to full-time Web3 consultant. We might actually be so back,” shared NFT community member “Cirrus” in a Sunday post on X.
Investor and former banker Tyler Warner, tweeting under the username “TylerD,” stated, “I think many of you underestimate how much the class of 2021 loved NFTs.”
Jason Yanowitz, co-founder of Blockworks, also commented that NFTs are “acting like there’s an NFT bull market coming soon.”
Digital artist Mike Winkelmann (Beeple), who sold his NFT “Everydays: The First 5000 Days” for $69 million in 2021, celebrated the price explosion with a new artwork he dubbed “Big Sweep.”
Experts Had Predicted an NFT Recovery
CryptoSlam strategist Yehudah Petscher told Cointelegraph in May that he believed the NFT market was ready for a rebound, though he maintained a more cautious outlook compared to previous peaks.
DappRadar analyst Sara Gherghelas also noted in a May report that the sector had potential for a comeback but required new catalysts for a full recovery, pointing to real-world assets as a possible catalyst.
On July 9th, American rapper Snoop Dogg completely sold out his collection of approximately one thousand NFTs via Telegram in just 30 minutes. This event also triggered new discussions about a potential market revival.
