Intense NFT buying activity is happening as CryptoPunks and Penguins rise.

Investors flock to NFTs after major sales surge

Investors have been diving into non-fungible tokens (NFTs) following a significant buying spree of Blue Chip NFTs on Sunday. This activity was further bolstered by a rally in the broader crypto market.

According to data from Coingecko, the leading NFT collection, Cryptopunks, saw its market cap rise by 15.9%, bringing its floor price to over $179,000 from 47.50 ETH. In just one day, 83 NFTs were acquired by new owners.

Pudgy Penguins, another significant NFT collection, also witnessed a bump, increasing by over 15% to 16.60 ether (around $62,597). On that same Sunday, 100 new holders entered the market.

The Infinex Patrons NFT Collection offered holders governance rights over its protocol, with its value climbing 9.4% to 1.4 ether, equivalent to $5,241.

Other collections saw impressive gains as well, one reaching a remarkable 1280% increase.

The NFT market is expanding

The overall market capitalization for NFTs increased by 21.2% in the last 24 hours, surpassing $63.4 billion. Total sales surged by 303%, amounting to $308.7 million, according to Coingecko.

This marks a notable shift from a few months back when NFT volume plummeted by 61% in the first quarter of 2025, totaling $1.5 billion. Last year was deemed the poorest for NFT sales since 2020, as volatility and rising token prices impacted the market significantly.

NFTs making a comeback

Users on social media speculate that this surge could indicate an upswing for the NFT market after years of decline since the highs of 2021. One community member, “Cirrus,” remarked in a recent post about witnessing someone purchase a mutant NFT and instantly update their profile to describe themselves as a full-time Web3 consultant. That seemed, well, hopeful.

Investor Tyler Warner expressed thoughts on social media about how he might have underestimated the enthusiasm for NFTs among the 2021 cohort.

Similarly, Jason Yanowitz, co-founder of BlockWorks, commented that the NFT sector seems to be operating like there’s a financial vehicle for NFTs on the horizon.

Digital artist Mike Winkelman, known as Beeple, who made headlines by selling his NFT “Everydays: The First 5000 Days” for a whopping $69 million in 2021, noted that the current price surges may reflect what he refers to as the “Big Sweep.”

Predictions for NFT recovery

Yehudah Petcher from Cryptoslam indicated that the NFT market appears set for a rebound, with a more favorable outlook compared to prior peaks. Dappradar analyst Sara Gherghelas also maintained that a comeback is possible but would likely require new catalysts, perhaps involving real-world assets.