Ethereum NFT Torch Dey Spark Di 10th Anniversary, Market Recovery
Ethereum NFT initiative don launch “The Torch” to mark the network ten years anniversary. The symbolic Torch NFT go dey waka every day between wallets from July 21 to July 30, start from co-founder Joseph Lubin, and e go burn on July 30 when new commemorative token open for free minting (gas fees still dey). Traders suppose prepare to see short-time spikes in gas fees and congestion for network around mint. This event match with sharp recovery for NFT market. Ethereum NFT trading volume jump 300% for two weeks to $75 million. Weekly NFT sales for all chains reach $110 million, highest for six months. CryptoPunks lead gains, one buyer spend $8.5 million on 48 punks. Analysts talk say this rally na because Ether price don climb 50% since early July, wey boost collector confidence. Institutional interest dey rise. Cboe BZX file for ETF wey hold PENGU tokens linked to Pudgy Penguins, show say digital collectibles get more support. This fresh momentum fit help NFT sector growth continue and push Ether price higher soon.
Bullish
Di launch of one hight profile Ethereum NFT event plus di NFT trading volumes wey dey increase, Ether prices wey dey rise, and di increasing interest wey institutions get, show say di momentum dey for bullish side. Di symbolic Torch NFT dey drive engagement, plus 300% jump for Ethereum NFT volume and 50% rise for Ether price since early July dey show strong demand. Institutional moves like di PENGU ETF filing still dey validate digital collectibles. Short-term gas fee spikes fit cause wahala, but renewed confidence from collectors and institutions dey support positive outlook for Ether and di NFT market.