NFT Market Cap Climbs to $9.3B as Ethereum Rally Lifts Blue-Chip Collections

I’m seeing the NFT market surge to a $9.3B market cap, a 40% increase since July, driven largely by gains in Ether and stronger performance from Ethereum-based collections. DappRadar’s data shows NFTs were valued at $6.6B last month, highlighting a rapid rebound in market capitalization tied to blockchain-native activity.

Ethereum’s momentum is central here: ETH recently cleared $4,000 and now trades above $4,600 with a $557B market cap, and because most NFTs live on Ethereum, that bullish Ether trend is lifting NFT valuations and transaction volume. The top 10 NFT collections by market cap are all Ethereum-based, which reinforces how interconnected NFT prices are with ETH price action.

CryptoPunks leads the space with 526,900 ETH (about $2.4B) in total value and produced 4,200 ETH ($20M) in weekly volume from 90 sales averaging $217K each. BAYC ranks second at $602M, while Pudgy Penguins sits close behind at $591M. Despite BAYC’s higher valuation, Pudgy Penguins topped weekly sales with $8.7M versus BAYC’s $6.3M, and CEO Luca Netz points to the project’s expansion into physical toys in 2022 as a catalyst that helped it become a blue-chip NFT.

This week’s on-chain interest includes BTCS Inc. adding three Pudgy Penguins to its treasury, and other leading collections by market cap include Chromie Squiggle, Autoglyphs, Fidenza, Lil Pudgys, Mutant Ape Yacht Club, Moonbirds, and Milady Maker. These dynamics suggest concentrated strength among Ethereum-native blue-chip NFTs amid a supportive Ether price environment.