Is NFT Mania Making a Comeback? Wall Street’s Laughing All the Way to the Blockchain! 😂

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Ah, the delightful farce that is the world of NTFs. Like a phoenix rising from the ashes, or perhaps more accurately, like a jester in a worn-out carnival, we find ourselves enmeshed in what may be a resurgence of these elusive digital artifacts. One can almost hear the lemming-like march of investors scurrying towards a market capitalization that, in a moment of delirium, has soared from a mere $5.1 billion to a staggering $6 billion, as if the very heavens have conspired to bless us with this ludicrous adventure.

In this stage of high farce, our benevolent overseer, the crypto analytics oracle known as CoinGecko, has taken note of this remarkable ascension, reporting that the NFT market bite into reality again like a starving wolf upon a defrosted morsel. A staggering surge of over 20% in just the span of 24 hours, elevating the total cap to a dizzying $6.3 billion, all while the trading volume danced up by a ludicrous 287% to $37.4 million. Who knew digital collectibles could evoke such fervor? 🎉

“The NFT market cap just pumped 17% in a day from $5.1B to $6.0B.”

“Which NFTs are you holding?”

— CoinGecko (@coingecko) July 21, 2025

And yet, amid this swirling tempest of speculation and excitement, one might recall that NFT sales have languished in the despondent depths since their unholy peak in early 2022. Might we dare to entertain the notion of a cultural revival, or are we simply like moths drawn startled to a flickering flame?

NFT Culture Revival?

Like a distant drumbeat, the CryptoPunks collection leads this frivolous parade, claiming a 16% rise in floor prices to a sum akin to $179,000. Cryptocurrencies and artworks, seemingly at odds, can combine in triumph, reveling in over $14 million in sales during a mere 24 hours. For the inconsequential and the affluent alike, these pixels on the blockchain inspire visions of grandeur.

And, let us not forget the pudgy little waddlers known as the Pudgy Penguins, glutting a fine profit as their floor prices swelled by 15%. Meanwhile, the likes of Infinex Patrons and the ostentatiously named Bored Ape Yacht Club have also seen their fortunes sprinkled with some glitter, prancing up by more than 9% in this theatre of absurdity.

Alas, while the noble “YOU THE REAL MVP” group of 420 Memeland NFTs experience a meteoric rise of 1,280%, soaring to frothy heights of 69 ETH, one must wonder, are we in the midst of a grand spectacle or merely a game of high-stakes chance? 🎭

“NFTs are moving like there are NFT treasury vehicles on the horizon,” quipped Blockworks co-founder Jason Yanowitz.

Perhaps there lies a connection to the recent flurries of Ethereum’s price fluctuations, as collectors and wise sages alike have suggested. The esteemed Chairman of Animoca Brands, Yat Siu, Weaves together a tale of currency and culture, proposing that should Ethereum return to its former glories, it might just usher in NFT season anew, like a somnambulant beast awakening from a long slumber.

“NFTs are the backbone of the Ethereum cultural economy, much more than just financial; it’s about culture, status, and ultimately belonging.”

“It is more than appropriate that the torch is an NFT; the ATH of @ethereum was in November 2021 during so-called NFT season. If NFTs on ETH roar back, we could reach new ATH, beyond mere financial play—here’s why.”

— Yat Siu (@ysiu) July 21, 2025

Ethereum On A Rip

Alas, the rising specter of Ethereum has found new vigor, pushing prices beyond the feeble grapplings of reality. A phenomenal crest of 55% gained appreciation over the month. The cryptocurrency is now prancing around its highest valuation since winter’s depths, reaching a peak of $3,814—a mere retreat before dawn on Monday morning, yet a reminder that all things blockchain are not meant for the faint of heart.

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2025-07-21 10:29