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CryptoPunks Whale Buy Ignites Hopes of NFT Resurgence

A whale's purchase of $6 million in CryptoPunks NFTs sent digital art prices rising across the board.
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Jul 21, 2025 • 1 min read

The NFT market recently surged past $6 billion in total market capitalization, powered by a massive CryptoPunks sweep and renewed demand across Ethereum-based digital collectibles.

What’s the Scoop?

  • Market Cap Surge: NFT market cap jumped ~21% in a single day to reach $6.3–6.4 billion, reflecting a sharp rebound in investor appetite.
  • CryptoPunks Lead Charge: A whale wallet spent 2,082 ETH ($5.9 million) to buy 45 CryptoPunks in minutes—sending the collection’s floor price up ~14–16%.
  • Blue-Chip Rally: Pudgy Penguins spiked ~15%, Bored Ape Yacht Club +7%, and other blue-chip collections like Moonbirds and Infinex Patrons posted strong gains.
  • Ethereum-Centric Growth: Most of the action is concentrated on Ethereum, with daily NFT sales rising 339% and thousands of buyers and sellers re-engaging.
  • Cautious Optimism: While sentiment is turning bullish—with comments like “we might actually be back”—the market remains sensitive to speculative spikes and liquidity rotations.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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