The NFT market witnessed a strong surge in sales during July 2025, reaching over $574 million, marking the second-highest monthly volume for the year. This surge represents a significant 47.6% increase from the previous month, June, which recorded $388.9 million in sales. While this monthly figure still lags behind January’s peak of $678.9 million, it demonstrates growing momentum in the sector.
Despite this increase in overall sales, the number of transactions decreased slightly, from 5.5 million in June to 5 million in July, representing a 9% dip. However, the average sale value per NFT climbed to $113.08, the highest it has been in the last six months. This uptick in the average sale price suggests a growing appetite for higher-value digital assets, signaling that larger, more discerning buyers are entering the market.
NFT transactions saw an imbalance between buyers and sellers. The number of unique buyers fell to 713,085, down 17% from the previous month, which saw 860,134 buyers. On the other hand, unique sellers increased by 9%, reaching 405,505 in July. This shift suggests a consolidation of buying activity, with fewer participants making larger purchases rather than widespread buying across a more significant number of individual traders.
The rise in the average sale price and the drop in buyers highlights a possible trend towards high-value, selective purchases rather than mass participation, which is typical in bear or sideways market conditions. Moreover, despite a decrease in unique buyers, the overall market capitalization of the NFT sector rose to over $8 billion in July, up 21% from the valuation of $6.6 billion in late June.
Ethereum-Based NFTs Lead the Market
The Ethereum blockchain continued to dominate the NFT space in July, accounting for the lion’s share of total sales. As Ethereum’s price surged above $3,900 - a remarkable 62% increase from the beginning of the month - its influence on Ethereum-based collections grew substantially. The top 10 NFT collections by market capitalization were all based on Ethereum, further solidifying its dominance in the sector.
CryptoPunks, a long-standing leader in the NFT space, led the market with over $69.2 million in sales in the past 30 days. Pudgy Penguins, another well-known collection, followed closely with $55.5 million. Ethereum-based collections continued to see strong growth across the board, with Pudgy Penguins showing an impressive 65.44% increase in floor prices, outperforming even other blue-chip collections like Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC).
The dominance of Ethereum-based NFTs can be attributed to the blockchain's long-standing reputation for supporting robust, high-value collections and its recent price surge, which has contributed to the increasing value of Ethereum-based assets.
Blockchain Sales Breakdown
Ethereum maintained its dominant position with $275.6 million in NFT sales for the month, marking a 56% increase from the previous 30 days. This surge in Ethereum-based NFT sales comes amid a broader uptrend in the cryptocurrency market, with Ethereum itself seeing substantial gains in price. Its continued leadership in the NFT space reflects its established infrastructure and widespread adoption across both artists and collectors.
Bitcoin and Polygon followed Ethereum in terms of total sales volume, with Bitcoin recording $74.3 million and Polygon at $71.6 million. Although Ethereum’s dominance remains clear, other blockchains are starting to gain traction, with Cardano seeing the most significant growth in terms of percentage change, up 102% in the last 30 days. Solana also saw modest growth, with a 8% increase in NFT sales compared to the previous month.
However, not all blockchains saw positive growth. Polygon experienced a sharp 51.1% drop in sales compared to the previous month, while BNB Chain's sales fell by 54%. These declines are worth noting, particularly as they show that while Ethereum continues to grow, other blockchains are facing challenges in sustaining momentum within the NFT market.
Market Trends and Future Outlook
July's surge in NFT sales shows that the market for non-fungible tokens remains resilient, with key collections and high-value assets continuing to attract attention despite fluctuations in buyer activity. While the overall number of transactions has decreased, the increase in average sale prices indicates a shift toward larger investments in more established collections. The trend also signals that NFTs are becoming more of a high-value, long-term investment rather than speculative, quick-turnover assets.
Despite Ethereum's continued dominance, there is a growing interest in other blockchain ecosystems. As platforms like Cardano and Solana see increasing adoption for NFTs, the market may be heading toward a more diversified landscape. However, Ethereum's infrastructure, developer support, and established reputation in the NFT space put it in a favorable position to maintain its leading role in the industry.
Looking ahead, the NFT market could see further growth if the trend towards higher-value, enterprise-level NFTs continues. If blockchain projects such as Cardano, Solana, and Polygon manage to expand their reach and infrastructure, we may witness more competition for Ethereum in the NFT space.
Final thoughts
NFT sales in July 2025 reached impressive heights, with overall sales reaching $574 million - showing substantial growth compared to previous months. However, with a decrease in the number of unique buyers and a shift towards larger, higher-value purchases, the market's future appears to be consolidating, with fewer but more significant players in the market.
Ethereum remains the dominant blockchain in terms of market volume, but other blockchains are showing signs of growth, suggesting a potential future for a more diversified NFT ecosystem. As the market evolves, it will be interesting to see if Ethereum can maintain its position or if newer blockchains will challenge its supremacy.