The NFT market has recently experienced a resurgence, concluding two consecutive months of strong performance—its best since February—fueled by rising adoption and renewed interest. According to a report from blockchain analytics platform DappRadar, NFT trading volumes increased by 9%, while the number of sales saw a slight decline of 4%. This suggests a trend where fewer assets are changing hands, but collectors appear to be investing more in each transaction.
In the last 24 hours alone, NFT trading volumes surged over 25%, reaching approximately $7.9 million, indicating a renewed vigor in the market. DappRadar analyst Sara Gherghelas highlighted that a key factor driving this uptick is growing adoption. She provided the example of the nightclub Hï in Ibiza, which launched the first permanent NFT art gallery within a club setting, showcasing works from renowned NFT artists like Beeple and Mad Dog Jones.
Coinbase’s layer-2 network, Base, has also made significant strides by becoming the third-largest blockchain in terms of trading volume, primarily due to its low minting costs and speculation surrounding airdrops. Nevertheless, Ethereum continues to dominate the space, holding a significant 61% market share in NFTs. Recent advancements, such as the introduction of trustless agents, may facilitate safer interactions between AI systems and decentralized applications (DApps) through NFT-based identities.
Notably, the market has been invigorated by high-profile events; American rapper Snoop Dogg successfully sold out a collection of nearly 1,000 NFTs on Telegram in just 30 minutes, which further fueled interest in NFTs.
Interested parties in the digital asset space have seen considerable increases in trading activity, with August alone recording $578 million in trading volumes and 5.5 million sales, both slightly above July’s figures of $530 million in trading and 5.2 million sales. To put it in perspective, January marked the highest trading volume for 2025 thus far at $997 million, despite recording only 3.1 million sales. February followed with $498 million and 2.7 million sales. The reports indicate that July and August represented the strongest performance months for NFTs since February in terms of both volume and sales count, with Gherghelas stating, “The signs are clear: people are returning to the NFT space.”
Despite past volatility and the market’s struggles in recent years—where trading volumes had plummeted 61% in the first quarter of 2025—there are increasing signs of revival. August witnessed the sector’s market capitalization swell to over $9.3 billion, marking a 40% increase from July. This uptick coincided with rising prices in Ethereum-based collections.
Among the top NFT collections currently, CryptoPunks remains the largest, reporting a 24-hour trading volume of $1.2 million from five sales. The Infinex Patrons NFT collection, notable for offering governance voting power over the Infinex protocol, recorded a trading volume of $7,733, with two sales. Yuga Labs’ Bored Ape Yacht Club rounded out the top three, achieving a 24-hour volume of $208,617 from five sales.
As the sector grapples with its past while navigating potential new opportunities, observers remain cautiously optimistic about the NFT market’s trajectory.
