Whale Purchase Propels NFT Market Cap Past $6B Amid June Trading Surge

Published: 2025-07-21 20:24:35 |

NFT market momentum accelerated in June as trading volume climbed 25% month-on-month to $1.2 billion across 1.2 million transactions, led by Ethereum’s 70% share and floor-price gains in blue-chip collections like Bored Ape Yacht Club and Azuki. Lower gas fees, improved wallet UX and growing retail and institutional interest set the stage. The rally peaked when an anonymous buyer spent 2,080 ETH (≈$7.8 million) on 45 CryptoPunks via OpenSea, driving NFT market cap up 28% to over $6 billion and daily volume to $46 million (+191%). ETH and SOL also rallied to $3,800 and $190 respectively. Analysts note rising demand for premium NFT assets driven by established collections but caution that a full “NFT season” remains unconfirmed amid volatility and macro headwinds.

Bullish

The whale’s 2,080 ETH CryptoPunks purchase and the June volume surge signal strong short-term demand for NFTs and ETH, driving price spikes in both ETH and SOL. In the long term, lower gas fees and improved UX may sustain institutional and retail interest, underpinning ETH’s role as the primary NFT settlement token. However, traders should monitor volatility and macro risks that could temper gains.