The non-fungible token (NFT) market is showing renewed signs of life after a turbulent period, closing two of its strongest months since February 2025. Rising adoption, celebrity involvement and blockchain innovation have pushed trading activity to new highs this year.
Trading Volumes Rise Despite Fewer Sales
According to blockchain analytics platform DappRadar, NFT trading volumes increased by 9% in August compared with the previous month, reaching $578 million. Sales counts slipped by 4% to 5.5 million, suggesting collectors are paying higher prices per transaction. CoinGecko data also revealed a 25% spike in NFT volumes within a single day, hitting $7.9 million.
DappRadar analyst Sara Gherghelas said the trend highlights a clear return to the NFT space. “The signs are clear: people are returning,” she remarked in the report.
Adoption at the Heart of Growth
One of the biggest factors driving the resurgence is adoption in mainstream spaces. Ibiza’s renowned nightclub Hï has launched the first permanent NFT art gallery inside a club, featuring works from prominent creators such as Beeple and Mad Dog Jones. The move underlines how digital art is gaining exposure beyond online platforms.
Source: DappRadar
Another catalyst is Coinbase’s layer two network Base. Low minting fees and speculation around airdrops helped the chain become the third largest by trading volume. Ethereum remains the dominant blockchain in the NFT ecosystem with 61% market share. Developers recently introduced “trustless agents” to enable AI systems and decentralised apps to interact using NFT-based identities and reputation layers.
Celebrities Lend Support
High-profile names have added further momentum to the sector. In July, American rapper Snoop Dogg sold out nearly 1,000 NFTs on Telegram in just 30 minutes, sparking fresh discussions about a revival. Such celebrity-driven launches have historically drawn mainstream attention and trading activity back into the market.
Investors Re-Enter the Market
July and August produced $530 million and $578 million in NFT trading respectively, making them the strongest months since February. January remains the peak month of 2025 so far, generating nearly $1 billion in volume despite fewer overall sales.
Market capitalisation also strengthened in August, climbing to $9.3 billion, up 40% from July. Ethereum-based collections rose in value in tandem with Ether’s price, which is currently above $4,300.
CryptoSlam strategist Yehudah Petscher previously suggested the market was set for a rebound, although likely without the frenzy seen in its early years.
Top NFT Collections
CryptoPunks leads the sector by market capitalisation, registering a 24-hour trading volume of $1.2 million with five individual sales. The Infinex Patrons NFT collection, which provides governance voting rights for the Infinex protocol, reported $7,733 in trading and two sales. Bored Ape Yacht Club, created by Yuga Labs, rounded out the top three with $208,617 in volume and five sales.
Outlook
Despite last year being the weakest for NFT trading since 2020, and volumes dropping 61% in the first quarter of 2025, recent months suggest resilience. With new adoption avenues, rising collection values and celebrity engagement, analysts believe the NFT market may be entering a steadier phase of growth.
