The market capitalization of the non-fungible token (NFT) segment has surpassed $6 billion, increasing by 28% in just 24 hours. The daily sales volume in the sector surged by 191%, reaching $46 million, according to CryptoSlam.
The surge in demand coincided with the strengthening of Ethereum and Solana. The price of the second-largest cryptocurrency by market cap reached a 2025 high of $3800, while the “people’s cryptocurrency” rose to $190, its highest level in five months.
A major purchase on OpenSea also triggered the growth in the NFT sector. An unknown investor acquired 45 NFTs from the CryptoPunks collection, spending over 2080 ETH ($7.8 million).
Amid this, the floor price of the token increased by 16.5% in 24 hours, reaching 47.7 ETH.
According to analysts at LVRG Research, the NFT sector is gaining momentum amid a general bullish trend. Traders are returning to leading projects like CryptoPunks, suggesting they are undervalued.
Vincent Liu, Chief Investment Officer at Kronos Research, believes the whale purchase signals the strength of “blue chips” and a growing appetite among major players. The influx of liquidity could trigger a capital rotation back into premium NFTs.
Presto Research analyst Min Jung noted that activity is concentrated around older collections rather than new projects. This indicates a return of investor interest, but not yet a full-fledged “NFT season.”
Earlier in the first quarter of 2025, the trading volume of non-fungible tokens declined by 24%, as reported by DappRadar.