NFTs Make A Comeback As Ethereum and Solana Market Soar High

After months of stagnation, the altcoins are back in serious action. We are seeing top collections on Ethereum and Solana roaring back to life, with prices and trading volumes climbing rapidly. And with all that, we are also experiencing a surge in NFTs popularity.

If for some reason you have forgotten what NFTs are, you might have seen the punk monkey portraits a few years back.

Trading Volumes Spike Across Top NFTs

According to recent data from DappRadar and Blur, NFT trading volumes have spiked sharply in July. Blur’s platform alone recorded over $44 million in trades within 24 hours, marking a substantial revival of investor interest. Popular Ethereum-based collections like Bored Ape Yacht Club (BAYC), CryptoPunks, and Azuki all saw double-digit price gains.

Meanwhile, Solana’s ecosystem is also heating up. Collections like Mad Lads and Degenerate Ape Academy recorded notable activity, with Solana NFT volume jumping more than 30% in a week.

Why NFTs Are Back in the Spotlight

The renewed excitement is being fueled by a broader cryptocurrency rally, which has pushed Bitcoin past $120,000 and lifted Ethereum and Solana as well. The bullish sentiment has spilled over into the NFT space, where traders are once again chasing limited-edition digital assets.

Another key driver is the influx of institutional attention. Several crypto-native funds have reportedly resumed allocating capital to NFTs, sensing a bottom in valuations and an opportunity for upside.

Floor Prices and Sales Volumes Recover

The floor price of Bored Ape Yacht Club climbed back above 15 ETH, a level not seen since early 2024. Azuki, despite previous controversy, also rallied in both floor price and daily transactions. Solana’s Mad Lads surpassed $10 million in 7-day volume, reaffirming its status as a blue-chip NFT on the network.