The NFT market shows signs of recovery, blue-chip projects are regaining popularity

Recently, the NFT market has shown obvious signs of recovery. After several months of sideways consolidation, the market has finally begun to warm up: floor prices are rising, market capitalization is rebounding, some familiar projects are making a comeback, and even surpassing some established NFTs. From Pudgy Penguins surpassing BAYC to the unexpected return of Art Blocks, the market atmosphere is changing.

Market Overview

In July, the NFT market performed brilliantly:

• Market capitalization surged by 94%, reaching nearly $7 billion, marking the highest level since early 2025.
• Weekly trading volume increased by 51%, reaching $136 million, making July likely to be one of the best-performing months since February.
• The average price of NFTs increased by 40% over the past 7 days, reaching $146.
• The trading volume only increased by 7%, indicating that traders are shifting towards higher value assets.

These data clearly demonstrate the recovery trend of the market, especially the return of blue-chip projects.

Popular NFT Categories

In the best-performing NFT categories this week, PFP projects led the way, accounting for 37% of the total trading volume. Following closely are RWA NFTs, which accounted for 11%, indicating that the tokenization narrative still has vitality. However, NFTs in sports, music, and fashion have not followed the market's rise. Game NFTs, although stable in performance during the second quarter, saw a significant decline in sales this week.

Eye-catching NFT Projects

1. Pudgy Penguins: Market cap surpasses BAYC, second only to CryptoPunks. Since its launch, the floor price has increased by 539%, with another 7% rise this week. Its success stems from its issuance strategy during the bear market and its diversified development connecting Web2 and Web3.

2. CryptoPunks: The floor price increased by 53% this week, becoming one of the most actively traded collectibles again. As the gold standard of Web3 influence, CryptoPunks always manages to return to the spotlight during active market periods.

3. Moonbirds: Trading volume surged by 600%, and the floor price increased by 60%. This rebound is due to the acquisition by the new owner and the collaboration with Towns, but its dollar value has still dropped by 64% since its issuance.

4. Art Blocks: Quietly making a comeback, ranking among the highest in trading volume, with an average price increase of 156%. New features introduced by the platform, such as collector profiles and achievement systems, have enhanced user experience and rekindled market interest.

Summary

In the past week, the NFT market has shown signs of recovery: floor prices have risen, PFP projects have regained dominance, and art projects have made a strong comeback. Pudgy Penguins have surpassed BAYC, CryptoPunks are heating up again, and Moonbirds are soaring high, all of which suggest that the market is changing and investors' attention is refocusing on the NFT space. However, whether this signals the arrival of a new bull market still requires further observation.