NFT market capitalization explodes by 94 % to $ 6.6 billion: Cryptopunk sale for $ 5 million drives price increase through top collections

NFT market capitalization explodes by 94 % to $ 6.6 billion: Cryptopunk sale for $ 5 million drives price increase through top collections

Increase in the NFT market capitalization in July: an increase of 94% to $ 6.6 billion

In July 2023, the NFT market experienced an important upswing, whereby the market capitalization increased by 94% to a total of $ 6.6 billion. This impressive increase was largely driven by the sale of a cryptopunk nfts for $ 5 million and the strong contribution of blue chip collections that recorded a price upswing of 40%.

The demand for NFTS remains strong, and the latest sales figures show that interest in digital collector's pieces is unabated. In particular, the cryptopunks, one of the most famous NFT collections, show that the market for high-quality digital assets is flourishing. The sale of a cryptopunk for a remarkable price of $ 5 million has further strengthened trust in the entire NFT sector.

The increase in market capitalization and the price increases in the past few months underline the growing acceptance of NFTs in the financial world and beyond. Blue chip collections that have proven to be particularly stable play a crucial role in increasing prices and general market development.

Overall, it can be said that the NFT market experienced a remarkable recovery and increase in interest in July 2023. The combination of high -priced sales and the strength of established collections indicates a promising future for digital collectibles.