The NFT market has shown strong performance for two consecutive months since February, with trading volume reaching a new high for the year as market adoption and interest warm up.
A report released by blockchain analytics platform DappRadar on Thursday indicated that NFT trading volume increased by 9%, while the number of transactions decreased by 4%. This suggests that although the number of trading assets has declined, collectors are paying more per transaction.
Data from CoinGecko shows that NFT trading volume surged in the past 24 hours, increasing by over 25% to a peak of $7.9 million.
DappRadar analyst Sara Gherghelas pointed out that one of the core drivers of the NFT market's recovery is adoption. She cited the example of the Hï nightclub in Ibiza, Spain, which opened the first permanent NFT art gallery within a club, showcasing works by NFT artists such as "Beeple" and "Mad Dog Jones."
Another driver is Coinbase's Layer 2 network, Base. With low minting costs and the expected effects of airdrops, Base has become the third-largest public chain by trading volume.
However, Gherghelas noted that Ethereum (ETH) "remains the dominant force," holding a 61% share in the NFT industry. In August, developers also introduced trustless proxies on Ethereum.
"This will enable AI systems and DApps to securely achieve mutual recognition and interaction through an NFT-based identity and reputation layer," Gherghelas added.
In July, American rapper Snoop Dogg sold nearly 1,000 NFTs on Telegram within 30 minutes, an event that sparked discussions about the market's recovery.
DappRadar data shows that NFT trading volume reached $578 million in August, with 5.5 million transactions, a slight increase from July's $530 million and 5.2 million transactions.
January of this year was the month with the highest trading volume to date, reaching $997 million, but the number of transactions was only 3.1 million. February's trading volume was $498 million, with 2.7 million transactions.
Gherghelas stated in the report, "This makes July and August the strongest months for NFT trading volume and transaction count since February 2025."
In May of this year, CryptoSlam strategist Yehudah Petscher told Cointelegraph that he believed the NFT market was poised for a rebound, but in a more rational manner compared to previous peaks.
The NFT market has experienced significant volatility in recent years. Cointelegraph reported in April that NFT trading volume plummeted by 61% in the first quarter of 2025, falling to $1.5 billion. Last year was considered the worst year for trading volume and transaction count since 2020, during which the market experienced extreme fluctuations and token prices continued to rise.
However, signs of recovery have emerged in the sector. In August, the market capitalization of the NFT sector surged to $9.3 billion, a 40% increase from July, with Ethereum (ETH)-based NFT collections rising in tandem with the price of Ether (ETH).
According to CoinGecko data, the largest NFT collection by market capitalization, CryptoPunks, had a 24-hour trading volume of $1.2 million, with 5 transactions.
The second-largest Infinex Patrons NFT collection, where holders have governance voting rights for the Infinex protocol, had a 24-hour trading volume of $7,733, with 2 transactions.
In third place is the Bored Ape Yacht Club launched by Yuga Labs, with a trading volume of $208,617 and 5 transactions.
Related: Despite WLFI burning 47 million tokens, whales still lost millions due to a 40% drop in Trump-associated tokens.
Original article: “As Nightclubs and Rappers Return to the Spotlight, the NFT Market 'Heats Up'”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
