NFT sales surged to $574 million in July 2025, representing a 47.6% monthly increase from June's $388.9 million and securing the second-highest monthly total of the year, according to CryptoSlam data. This resurgence occurred despite a 9% drop in transaction volume, falling to 5 million trades, indicating a market consolidation toward premium assets.
The average NFT sale price soared to $113.08 – the highest level in six months – while unique buyers declined 17% to 713,085 as sellers increased 9% to 405,505. Ethereum-based collections dominated the market, generating $275.6 million in sales (56% monthly growth) and occupying all top 10 spots by market capitalization. CryptoPunks led with $69.2 million in trades, followed by Pudgy Penguins at $55.5 million – the latter showing a 65.44% floor price surge that outpaced established collections.
Ethereum's price rally past $3,900 (+62% since August 2024) buoyed NFT valuations, contributing to an overall NFT market cap of $8 billion (+21% from late July). Among other chains, Bitcoin recorded $74.3 million in NFT sales, Polygon generated $71.6 million (despite a 51.1% volume drop), Cardano grew 102%, and Solana rose 8%, while BNB Chain plummeted 54%.
Contrasting this growth, the NFT lending market collapsed 97% from January 2024's $1 billion to just $50 million by May 2025, with platforms like DraftKings, GameStop, and Bybit shuttering NFT services citing declining volumes.