Are NFTs Making a Comeback? A Single Whale Just Acquired 45 CryptoPunks for $8 Million

NON-FUNGIBLE TOKEN collections, such as CryptoPunks, Bored Apes, Moonbirds, and Pudgy Penguins, are witnessing an unexpected rise in demand, with some collections seeing their floor prices jump by double digits in just one night.

This increase in interest coincides with the climbing prices of Ethereum and Solana, the distributed ledger platforms behind most notable DIGITAL COLLECTIBLE collections. ETH hit a peak of $3,800 on Monday, marking its highest level in 2025, while SOL rose to $190, its best position in five months.

(SOURCE)

The overall NFT market capitalization has now surpassed $6.7 billion, nearly doubling from $3.2 billion less than a month prior. This increasing demand for NFTs indicates that investors are rotating away from BTC and reinvesting in more speculative opportunities.

Other indicators include a nearly 7% drop in Bitcoin’s trading market dominance to about 60.8% over the last month, as per TradingView statistics.

The trading volume in the DIGITAL COLLECTIBLE sector for the last 24 hours has surged to $45.8 million, whereas just a month ago, daily NON-FUNGIBLE TOKEN trading was barely above $10 million — a significant signal of renewed crypto holder interest in digital art.

This growth in the NON-FUNGIBLE TOKEN space is partially due to the rising prices of Solana and ETH, the two platforms that account for the majority of the NON-FUNGIBLE TOKEN market.

Additionally, the success of PENGU, the native crypto token for Pudgy Penguins, has played a role in this revival. It has shot up by 300% in just 30 days and now stands approximately 850% above its yearly low of $0.0037 recorded in April of this year.

PENGU’s success has generated significant buzz in the DIGITAL COLLECTIBLE trading market, being part of a broader NON-FUNGIBLE TOKEN ecosystem.

PENGU’s achievements have driven new interest in the Pudgy Penguin and Lil Pudgy NFT collections, with their floors currently at 16.75 ETH ($63,000) and 1.8 Ethereum ($6,750), respectively.

Nevertheless, the focus has shifted back to CryptoPunks, the original NFT collection that has experienced nearly a 20% increase over the past month, with substantial purchases returning to this highly discussed digital art collection of 2021.

DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now 

CryptoPunks Are Back: One Large holder Just Went On An $8M Shopping Spree

A whale created a new wallet(0x1bb3) and spent 2,082 $ETH($5.87M) to buy 45 CryptoPunk NFTs 4 hours ago.https://t.co/mVu8wrKhT7 pic.twitter.com/pfH4j5lYKI

— Lookonchain (@lookonchain) July 21, 2025

CryptoPunks are undergoing swift price increases and enhanced trading market influence. During the peak of the NFT frenzy in late 2021, obtaining a Punk required over 100 Ether, valued at roughly $4,800 at Ethereum’s peak value.

Now, as the trading market recovers, the floor price has climbed back to 47.75 Ether, about $182,000 per Punk. This increase is largely attributed to one particular whale.

This large holder appears to be taking a substantial position in light of this revival. A new wallet address has recently invested around $8 million in Ethereum to acquire 45 CryptoPunks in a single transaction, as reported by @Lookonchain, a distributed database analytics service.

This uptick in market demand has lifted the collection’s crypto market dominance to over 28% of the total NFT trading market, according to CoinGecko data. Pudgy Penguins hodl the second highest market dominance at 9%.

Other Notable Movers In The NFT Space

I think a lot of you are underestimating how much the 2021 class loves NFTs

— TylerD (@Tyler_Did_It) July 20, 2025

In addition to the most prominent NFTs like CryptoPunks, many top collections have also seen a rise. Bored Ape Yacht Club has surged nearly 23% in 24 hours, exceeding $50,900. It has recorded $3.8 million in trading volume over the previous day.

Azuki, another influential DIGITAL COLLECTIBLE collection from 2021, has soared 26% in the last 24 hours, with its floor price rising to 2.43 Ethereum ($9,100), after dipping below 2 Ethereum earlier this year.

Milady Maker, a trending profile picture (PFP) NON-FUNGIBLE TOKEN collection trending on social media, has experienced a modest 10% increase overnight, with volume ticking up simultaneously. Milady has quietly contributed to much of the recent rally, with floor prices up about 30% to $9,800 thus far in July.

Crypto holder and former banker Tyler Warner, known as TylerD on X, suggests that many are underestimating the passion for NFTs among the 2021 cohort. Jason Yanowitz, co-founder of Blockworks, also mentioned that NFTs seem to be moving as if NFT treasury vehicles are on the brink of launching.

Meanwhile, digital artist Mike Winkelmann, known as Beeple, who famously sold the NON-FUNGIBLE TOKEN “Everydays: The First 5000 Days” for $69 million in 2021, commemorated the price increase with a new artwork that appears to be titled “Big Sweep.”

EXPLORE: 10 Best AI Crypto Coins to Invest in 2025

Join The 99Bitcoins Update Discord Here For The Latest Trading market Updates

The post Are NFTs Back? One Large holder Just Swept 45 CryptoPunks For $8 Million appeared first on 99Bitcoins.