NFTs are making a comeback this summer. According to the latest data from CryptoSlam, non fungible token sales went up to $574 million in July 2025. This marks the second highest monthly total this year and a significant 47.6% increase from June’s $388.9 million. While that still trails behind the January high of $678.9 million it’s clear that the NFT market isn’t sleeping.
The numbers tell a story about the changing behavior of buyers and sellers. Even though the overall number of transactions dipped slightly, down 9% from June to 5 million, the average price per NFT shot up. In July the average sale hit $113.08, the highest it’s been in six months. It suggests that people are consolidating their buying behavior and leaning into high value assets rather than just throwing cash at every cartoon monkey that pops up.
Another telling stat is that the number of unique buyers dropped by 17% to 713,085, but the number of unique sellers rose by 9% to over 405,000. What does that mean? Well, fewer people are buying, but the ones who are… they are spending more. Meanwhile, more holders are clearly trying to cash in while the market’s warm. It’s a familiar pattern if you’ve been around crypto long enough early optimism drives prices up, and there are a bunch of sellers trying to hop on board
Ethereum Pulls Ahead as Floor Prices Surge
Ethereum played a huge role in the July boom. ETH broke past $3,900 during the month and is still trading above $3,800 at press time. That surge helped elevate Ethereum based NFTs across the board, and it shows in the numbers.
All of the top 10 NFT collections in July were Ethereum based which isn’t exactly shocking but still worth noting. CryptoPunks led with a massive $69.2 million in volume, while Pudgy Penguins came in second at $55.5 million. Polygon based Courtyard NFTs trailed behind with $23.8 million, showing that while other chains are trying, Ethereum still holds the crown when it comes to NFT dominance.
Pudgy Penguins did especially well, with a 65.44 percent increase in floor price. That sort of spike places it above even the most appreciated blue chips such as Bored Ape Yacht Club or Mutant Ape Yacht Club that did not see such a high increase. It proves that some collections are still able to break out in case the momentum and meme power is present.
Ethereum alone has earned $275.6 million in NFT sales in the month of July, marking a 56 percent increase over the previous month. Polygon and Bitcoin were next, recording $71.6 million and $74.3 million respectively. Interestingly, Cardano recorded the highest percentage increase of any major chain with sales up by an incredible 102%. Solana was less dramatic at 8% but Polygon lost 51.1 percent and BNB Chain lost 54 percent.
NFT Lending Market Nosedives
Even though the sales and prices are up, one sector of the NFT space is facing a serious winter: lending. The NFT lending market has all but collapsed. According to DappRadar, volume dropped from nearly $1 billion in January 2024 to just $50 million by May 2025. That’s a brutal 97% fall.
Loan sizes are down more than 70%, and lenders are disappearing fast. Even loan terms are shortening, averaging 31 days now, which signals cautious behavior from both borrowers and lenders.
Some big platforms have already pulled the plug. DraftKings, GameStop, and Bybit have shut down their NFT efforts in recent months. Bybit, for example, cited declining volumes in its April 8 announcement. X2Y2 also announced plans to shut down its NFT marketplace by April 30 as it pivots to AI. Even Starbucks bailed in March 2024, closing its NFT rewards program.
Comments