NFT Market Cap Hits $9.4B, As ETH Nears ATH – InsideBitcoins

The non-fungible token market continues recording positive growth in nearly all metrics. For the firm time in months, the non-fungible token market has seen its market cap soar again to greater heights, reaching over $9.4 billion for the first time since January 2025. The surge in market capitalization is accompanied by a significant surge in daily non-fungible token trading sales volume, which has also climbed to over $25 million in recent days. In this article, we shall factors fueling the recent NFT market surge.

NFT Market Cap Hits $9.4B

Data compiled by nftpricefloor.com, an on-chain non-fungible token market data aggregator that tracks over 1,700 non-fungible token collections from over 20 blockchain networks, confirms that the non-fungible token market capitalization has reached over $9.4 billion. The last time the NFT market capitalization reached such heights was in January, shortly after the November 2024 bull run that faded in late January 2025. Below, we have listed the leading NFT series by market capitalization.

CryptoPunks, a globally acknowledged non-fungible token collection featuring a limited edition of 10,000 pixilated digital items previously created by the digital asset incubation studio Larva Labs but now managed by the Infinite Node Foundation, is the leading NFT collection by market capitalization. It has an overall market cap of 520,000 ETH, equivalent to over $2.5 billion. Punk has a floor price of 52 ETH.

Pudgy Penguins, another globally acknowledged non-fungible token collection from the digital asset incubation studio Igloo Inc., featuring a limited edition of 8,888 cute penguin birds hosted on the Ethereum blockchain network, is the second most leading non-fungible token collection in terms of market cap. Pudgy Penguins has a market capitalization of 126,387, equivalent to $595 million, and a floor price of 14.24 ETH.

Bored Ape Yacht Club, another globally acknowledged non-fungible token collection from the digital asset incubation studio Yuga Labs featuring a limited set of 10,000 ape profile pictures hosted on the Ethereum blockchain network, is the third leading NFT collection in terms of market capitalization. The Bored Ape NFT series has a market capitalization of 128,200 ETH, equivalent to $603 million, and a floor price of 12.86 ETH.

Factors Fueling The NFT Market Cap Surge

The significant growth in the non-fungible token market is associated with a surge in the crypto market, which has left the flagship crypto Bitcoin (BTC) rallying above the $120,000 levels and Ethereum retesting its initial all-time highs. At the time of publishing, Ethereum is trading just a few inches from its initial ATH of $4800.Today, the rally is backed by institutional inflows, global adoption, legal clarity, and supply shocks.

Notably, the crypto market and the non-fungible token market have a strong association like that of a mother and child. Unlike cryptocurrencies, NFT users cannot exchange one NFT for another, meaning they need liquidity from crypto assets like Ethereum or Bitcoin. Therefore, in most cases, the factors affecting the price of crypto like Bitcoin and Ethereum directly impact the trading activities in the global NFT market.

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