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The non-fungible token sector has reached a 【$9.3 billion】 valuation this Wednesday, marking a 40% surge since July as Ethereum-based digital collectibles ride the wave of Ether's price appreciation. NFT Price Floor data reveals this upward trajectory coincides with ETH breaking the $4,600 barrier, currently holding a $557 billion market cap.
All top 10 NFT collections by market capitalization operate on the Ethereum blockchain, with transactions denominated in ETH. This direct correlation means the 【5.8%】 ETH price increase over the past week has automatically inflated NFT valuations. CryptoPunks maintains its lead with a floor valuation of 526,900 ETH (approximately $2.4 billion), followed by Bored Ape Yacht Club at $602 million.
While CryptoPunks dominates in total value, Pudgy Penguins unexpectedly leads seven-day trading volume at 【$8.7 million】, surpassing BAYC's $6.3 million. The penguin-themed collection's resurgence follows its successful pivot into physical merchandise, with blockchain firm BTCS recently adding three Pudgy Penguin NFTs to its corporate treasury.
——The market is witnessing a renaissance of 2021's NFT darlings—— with Chromie Squiggle, Autoglyphs, and Milady Maker joining the top 10. Average sale prices for CryptoPunks reached $217,331 this week, though transaction counts remain modest at 90 sales. Meanwhile, Moonbirds and Mutant Ape Yacht Club demonstrate sustained demand despite broader market fluctuations.
The NFT market's growth coincides with increasing institutional interest, as evidenced by public companies allocating portions of their treasuries to digital collectibles. Market analysts suggest the 【40%】 valuation jump reflects both ETH appreciation and renewed collector confidence, particularly in established projects with proven longevity.
As of press time, the NFT sector shows no signs of slowing, with Ethereum's upcoming network upgrades potentially further cementing its position as the preferred blockchain for digital collectibles and art.