Crypto Express

07/23 00:56

why a $6 billion NFT market cap surge

Inside why a $6 billion NFT market cap surge is fueling Ethereum’s Q3 bull case!

NFT volume has been surging, with Ethereum rallying by 50% in Q3.

Ethereum NFTs have been surging, with the total NFT market cap reclaiming $6.8 billion for the first time since Q4 2023. ETH is up nearly 50% this month, with NFT flows and gas usage adding bullish pressure in Q3.

While the market may seem a bit overstretched, NFTs [Non-Fungible Tokens] have been building a solid bullish structure lately. Historically, spikes in the NFT market cap have aligned with broader crypto bull runs. And, we’re starting to see those early signs again.

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

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