July's NFT Market Hits $574 Million, Second Only to January's Record

The NFT market delivered impressive momentum throughout July, capturing $574 million in total sales volume—a significant 47.6% jump from the previous month and the second-strongest performance in 2025, trailing only January’s $679 million peak, according to CryptoSlam data shared on July 31st.

Market Dynamics Show Shifting Patterns

Despite transaction counts slipping 9% to hit 5 million, the market structure transformed notably. Average transaction values climbed to $113.08, marking the highest level in six months and signaling a fundamental shift toward larger-ticket NFT purchases.

The buyer landscape also revealed intriguing trends: while unique purchaser counts dropped 17% to 713,085, seller participation surged 9% to reach 405,505. This divergence points to increasing market concentration among buyers and validates the rising average deal size—fewer buyers are capturing larger portions of available inventory.

The Blockchain Rankings Tell the Story

Ethereum reinforced its dominance in the NFT ecosystem, commanding $275 million in July sales, a 56% month-over-month surge. Other chains displayed contrasting fortunes: Cardano emerged as the month’s strongest performer with a remarkable 102% growth rate, while Polygon and BNB experienced headwinds, declining 51.1% and 54% respectively.

Blue-Chips and Breakout Projects

CryptoPunks maintained its status as the volume leader with $69.2 million in trading activity. Pudgy Penguins emerged as the standout performer, delivering $55.5 million in volume alongside a stellar 65.44% floor price appreciation that outpaced established projects including BAYC and MAYC. Polygon’s Courtyard NFTs completed the top three with $23.8 million in transactions.

Broader Market Expansion

The NFT sector’s total market capitalization surged beyond $8 billion, representing a 21% increase from the $6.6 billion level recorded just a week prior on July 24th—underscoring the category’s sustained recovery and renewed investor interest throughout the month.