BTC31011

07/22 09:36

Find out why NFT market cap surges $6 billion to f

Find out why NFT market cap surges $6 billion to fuel Ethereum’s Q3 bull run! NFT volume is skyrocketing, with Ethereum up 50% in Q3.

Ethereum NFTs are soaring, with the total NFT market cap reaching $6.8 billion for the first time since Q4 2023. ETH is up nearly 50% this month, with NFT flows and gas consumption adding to the bullish sentiment in Q3.

While the market may seem a bit crowded, NFTs [non-fungible tokens] have been showing a solid bullish pattern of late. Historically, sharp spikes in NFT market cap have coincided with overall cryptocurrency gains. And we’re starting to see those early signs again.

 The total NFT market cap just topped $6.8 billion, marking the first breakout since last year’s Q4 pump that peaked at around $10 billion. It was the closest cycle to the 2021 NFT craze.

However, even as demand for NFTs has risen overall, CryptoPunks (the original Ethereum-based NFT) account for nearly 30% of the market, up about 10% since the election rally.

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