NFT Market Rallies 29% in 24 Hours, Driven by Soaring CryptoPunks and Penguins

NFT Market Reignites as Daily Volumes Soar, CryptoPunks and Penguins Lead Gains

The NFT market is witnessing a renewed wave of activity following a prolonged period of stagnation, with top collections posting sharp price increases and trading volumes rebounding to multi-month highs.

In the last 24 hours, CryptoPunks saw a 17% jump in floor price to 47.75 ETH (around $183,000), with over 140 NFTs sold—marking the highest daily transaction count for the collection this year. Pudgy Penguins rose 12% to a 16 ETH floor, supported in part by renewed visibility after Coinbase adopted a Penguin avatar on social media platform X.

Other major collections also saw significant moves. Infinex Patrons climbed 26% to 1.4 ETH, while Bored Ape Yacht Club and Chromie Squiggles posted gains of 20% and 34%, respectively.

According to CoinGecko, the broader NFT market cap rose 29% in a single day, reaching $6.82 billion. Daily trading volume spiked to $50.4 million—well above the year’s average and a stark contrast to earlier months when monthly volumes hovered around $400 million, per CryptoSlam.

The sector’s resurgence follows a multi-year downturn that saw trading activity collapse and several platforms pivot away from NFTs. X2Y2, once a leading NFT marketplace, shuttered operations earlier this year amid a 90% drop in volume. Others, like Magic Eden and OpenSea, shifted focus to token trading and infrastructure acquisitions.

While the sustainability of this rally remains to be seen, the sharp uptick in demand and liquidity suggests a potential inflection point for the digital collectibles space.