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2025 Ethereum NFT Boom: Reasons Behind It and NFTs to Watch
Intermediate
2025-07-23 | 15m
Ethereum-based NFT collections dominated the recent seven-day sales charts, making up nine of the top 10 collections in terms of total sales.
On Monday, data from CryptoSlam showed that nine out of the top 10 NFT collections by sales volume last week were built on the Ethereum platform. These included well-known collections like CryptoPunks, Pudgy Penguins, Moonbirds, and Azuki. The only exception was the Courtyard NFTs, which are based on the Polygon platform.
This increase in Ethereum NFT sales happened as the price of Ether (ETH) neared the $4,000 mark. On Monday, ETH prices rose past $3,800, which is nearly 27% higher than around $3,000 on July 14. At the time you're reading this, ETH is trading at about $3,745.13, according to CMC.
In this article, you’ll learn about the latest NFT sector performance, the reasons behind Ethereum NFTs’ renewed growth, the top NFT collections to watch, and the answers to essential NFT questions.
A Deep Dive into Ethereum-based NFTs Dominance
Ethereum-based NFTs Dominate By Market Cap
NFT Floor Price, which tracks the valuations of NFT collections, shows that nine out of the top 10 NFTs by market cap are Ethereum-based. The only outlier in the top 10 was the Solana-based NFT collection Mad Lads.
The data showed that CryptoPunks led the pack with a $1.8 billion valuation, while Pudgy Penguins followed in second place with a $556 million market cap. Third place went to BAYC, which had a valuation of nearly $500 million.
Top NFT collections by market capitalization. Source: NFT Price Floor
Apart from Ethereum NFTs dominating the top 10 charts, the broader NFT market was also rising. The NFT market jumped to $6.34 billion in the last 24 hours, up 21.2%.
Ethereum-based Collections Dominate NFT Charts
The NFT market is growing very rapidly, helped by Ethereum’s lively community. According to CoinGecko, in July 2025, the total value of NFTs reached $6.417 billion, with daily increases of over 23.2%. NFT trading volume soared by 318% in just one day, reaching $40 million—something not seen since the earlier rise in NFTs. Collections like CryptoPunks, Moonbirds, and Pudgy Penguins, all built on Ethereum, are leading the way, with significant increases in their minimum prices and making up most of the NFT trades worldwide.
Data from CryptoSlam shows that CryptoPunks had a huge week, with $15.5 million in sales—an increase of over 11,736% compared to the week before. This made CryptoPunks the top collection by a large margin. Pudgy Penguins and Bored Ape Yacht Club (BAYC) made $2.69 million and $2.38 million in sales, respectively, coming in second and third. BAYC also saw sales rise by over 1,051%, with more buyers and sellers getting involved.
At the same time, DappRadar provided a slightly different view. While most of the top collections listed there are also based on Ethereum, the highest-ranked collection at DappRadar was Pudgy Penguins. It showed Pudgy Penguins had over $20 million in trading activity, while CryptoPunks had about $17.6 million. The average price for a Pudgy Penguin NFT increased to nearly $50,000—up 52% from the previous week. At the same time, the average sale price for CryptoPunks reached $155,000, a 21% rise.
Overall, CryptoSlam tracks the total sales, including both initial (minting) sales and resales, while DappRadar looks at all trading activity from various decentralized apps.
Key Reasons Behind the 2025 Ethereum NFT Boom
Several dynamic forces are converging to fuel Ethereum’s NFT sector explosion in 2025:
At its core, the boom stems from
institutional capital flooding back into blue-chip NFTs, exemplified by a mysterious whale spending $8.5 million to acquire 48 CryptoPunks in a single transaction—a move that ignited frenzied trading and propelled CryptoPunks' floor price up 14% to $175,320 within hours. This institutional confidence coincided with Ethereum's 10-year anniversary celebrations, which saw the launch of "The Ethereum Torch"—a symbolic NFT relayed daily among key figures like co-founder Joseph Lubin. Designed to embody decentralization, the torch's journey (culminating in a ceremonial burn on July 30) galvanized community sentiment and spotlighted Ethereum's cultural legacy, drawing thousands to participate in minting its commemorative NFT.
Critically, the NFT rebound aligned with
Ethereum's price surge of 55% in a month, breaking past $3,800 as institutional investors and corporate treasuries accumulated ETH38. Since NFTs are predominantly priced in ETH, this appreciation created a wealth effect, luring back dormant collectors and traders. Market data underscores this: Ethereum NFT weekly volume skyrocketed 300% to $75 million, dominating the broader NFT market's $140 million resurgence58. Blue-chip collections like Pudgy Penguins and Bored Ape Yacht Club rode this wave, notching 2.7–15% gains, while niche projects like YOU THE REAL MVP exploded 1,280%.
Underpinning this activity is a broader market rotation into digital assets amid bullish crypto momentum. As Animoca Brands chairman Yat Siu noted, NFTs transcend financial utility—they represent "culture, status, and belonging" on Ethereum. This
cultural resurgence, amplified by viral moments like Snoop Dogg's NFT sellout and bullish social media sentiment, merged with tangible institutional traction, including Cboe's ETF filing for Pudgy Penguins tokens. While risks of volatility persist, the 2025 boom signals NFTs' evolution from speculative assets to pillars of digital identity and community—a shift Ethereum's anniversary torch powerfully symbolizes.
Top NFTs to Watch in 2025
If you’re looking to invest in or follow the hottest NFTs on Ethereum, keep your eye on these top-performing projects:
Source: CoinMarketCap
CryptoPunks
CryptoPunks are considered the first highly valuable NFT collection and are a symbol of digital art history and online culture. Big sales in 2025, worth millions of dollars, have confirmed their popularity, with the minimum price increasing by 15.9% after a major purchase.
Moonbirds
Moonbirds has become very popular, especially after OpenSea used a Moonbird NFT as its profile picture, which led to a 33.3% increase in their minimum price. Their innovative staking features and strong community of Ethereum-based collectors make them a notable project.
Pudgy Penguins
Pudgy Penguins became more valuable by over 13.8% after appearing on popular TV shows, showing that exposure in the real world can boost an NFT’s market value and cultural importance.
Bored Ape Yacht Club (BAYC) & Milady Maker
BAYC continues to offer utility and exclusive perks, making it a perennial leader in Ethereum’s NFT rankings. Milady Maker, with its unique visual style, also frequently appears in the top trending NFT Ethereum collections, appealing to artists and collectors alike.
Conclusion
2025 is a breakout year for NFTs, with Ethereum at the sector’s core. Top collections like CryptoPunks, Moonbirds, and Pudgy Penguins are not just leading by floor price and trading volume, but are also defining the cultural and investment landscape for digital assets. Innovative NFT treasuries and the adoption of yield strategies are ushering in a new era—where NFTs on Ethereum are strategic, collectible, and income-producing. For investors and collectors, tracking Ethereum’s NFT market and its flagship projects is crucial to staying ahead in this rapidly growing digital economy.
Frequently Asked Questions (FAQ)
What is an NFT?
An NFT (Non-Fungible Token) is a unique digital asset on blockchain, most often on Ethereum, used for art, collectibles, gaming, and more.
Why are most top NFT projects on Ethereum?
Ethereum’s ERC-721 and ERC-1155 standards offer robust security, broad adoption, and support the largest, most liquid NFT marketplace ecosystem.
What’s driving NFT growth in 2025?
Ethereum price stability, a new institutional focus, creative mainstream NFT use cases, and innovative on-chain yield products all combine to push NFT demand and value higher.
Reference:
Cointelegraph. (2025, July 21).
Ethereum NFTs dominate sales as trading volume surges amid ETH price rally.
https://cointelegraph.com/news/ethereum-nfts-dominate-sales-trading-volume-eth-price-rally
CryptoNews. (2025, July 21). *NFT market cap jumps 20% to $6B as Ethereum-based collections lead revival*.
https://cryptonews.com/news/nft-market-cap-jumps-20-pct-6b-ethereum-based-collections/
CoinCatch Team
Disclaimer:
Digital asset prices carry high market risk and price volatility. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance. CoinCatch is not responsible for any losses that may occur. This article should not be considered financial advice.
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