NFT market capitalization surged 22% in a single day! Blue-chip NFTs lead the way, as whales buy up and ignite expectations for the "NFT season".

On July 21, 2025, the NFT market, which had been quiet for a long time, experienced a historic big pump, with market capitalization soaring over 22% in a single day, jumping from $5.1 billion to approximately $6.4 billion. Blue-chip NFT projects such as CryptoPunks, Pudgy Penguins, and Moonbirds led the charge, pushing daily NFT volume to surge 344% to $42.7 million, reaching a six-month high. On-chain data shows that Whales are making a big entry to sweep up purchases, combined with Ethereum breaking $3,800 and Bitcoin holding above $119,000 in a broad crypto rally, sparking heated discussions in the market about whether the "NFT bull run" has been reignited. Although the number of active buyers and transactions is still far below peak levels, this big pump undoubtedly injects a strong dose of confidence into the NFT ecosystem.

Blue-chip NFTs lead, with market capitalization and volume both soaring

• Historic Rise: The total market capitalization of the NFT market surged 22.4% on July 21, skyrocketing from $5.1 billion to nearly $6.4 billion, setting a record for the largest single-day increase in several months.
• Blue-chip NFT floor price big pump:
  • CryptoPunks: The floor price surged nearly 16% to 47.5 Ether (approximately $179,000).
  • Pudgy Penguins: rose by 15%, with a floor price of 16.75 ETH (approximately $63,500).
  • Moonbirds & Lil Pudgys: showed better performance, rising 34% to 1.94 ETH and 17% to 1.78 ETH.
• Volume Hits Six-Month High: A surge in market activity has driven daily NFT trading volume to rise 344%, reaching 42.7 million USD, marking the highest level in the past six months and indicating a significant recovery in NFT market liquidity.

Whale Get on Board and Encryption Surge: The Dual Engines of NFT Big Pump

• Whale's Huge Investment Ignites Market: Blockchain tracking agency Lookonchain monitored a newly created whale wallet spending 2,082 ETH (approximately $5.7 million) within hours to acquire 45 CryptoPunks. This large-scale transaction directly boosted the floor price of the series and ignited bullish sentiment across the entire NFT market.
• Overall Upward Support for the Encryption Market: The strong rebound of NFTs is closely related to the broader bull run in the cryptocurrency market. Ethereum (ETH) successfully broke through the 3800 USD mark, reaching a new high in several months; Bitcoin (BTC) is firmly holding above 118,000 USD. The strong performance of mainstream crypto assets provides a solid confidence and funding basis for the NFT market.
• "NFT season" calls rise again: Market observers are starting to discuss the arrival of "NFT season". Analyst Chris Taylor views this big pump as the beginning of the NFT bull market on social media. Jason Yanowitz, co-founder of Blockworks, pointed out that "the trend of NFTs seems to indicate that NFT treasury vehicles are about to emerge," likening it to the current phenomenon where Bitcoin reserve strategies are pushing up coin prices.

Concerns Amidst the Carnival: The Road to Recovery is Still Long Despite the bullish market sentiment, data reminds investors that the NFT ecosystem is still far from a full recovery:

• User Base Shrinks: According to CryptoSlam data, the current number of active NFT buyers has decreased by 52% compared to the peak.
• Insufficient trading activity: The global NFT transaction volume has also decreased by 11.6%. The big pump driven by blue-chip NFTs and Whales, whether it is the beginning of a sustainable recovery or a temporary pulse, still needs time to test. Whether the market can attract a broader range of participants and application scenarios will be key to determining how far this "NFT season" can go.

Conclusion: Liquidity returns, is an NFT summer approaching? The NFT market on July 21st announced its return with a striking blue-chip NFT leading storm. The aggressive actions of Whale wallets sweeping on-chain combined with the macro backdrop of Ethereum and Bitcoin rallying together ignited investors' expectations for the "NFT bull run restart", as evidenced by the trading volume hitting a six-month high. Although the user base and overall trading activity have yet to recover to their former glory, this historic single-day rise undoubtedly injects a strong signal of liquidity recovery into the NFT space. With the market buzzing about the possibilities of innovative mechanisms like “NFT treasury tools”, whether the NFT ecosystem can ride this tailwind into a true "summer" deserves continuous attention. The market is holding its breath to see if this round of momentum driven by whales and belief can translate into lasting prosperity for the NFT ecosystem.