The Impossible Token (NFT) market has closed its two strongest month since February, as adoption and renewed interest have been raised to the highest level of this year.
NFT trading volume rose 9%, but sales fell 4%, indicating that “less assets collected per sale are collected, but collectors pay more per sale.”
Coingecko shows NFTS trading volume has skyrocketed over the last 24 hours, rising more than 25% to $7.9 million.
Revival through adoption
According to Dappradar analyst Sara Gherghelas, a key driver for the growth of the NFT market comes from adoption. She pointed to cases such as the nightclub Hoï in Ibiza, an island near Spain, and opened the club’s first permanent NFT art gallery, showing the work of NFT artists such as Beeple and Mad Dog Jones.
The other driver is Coinbase Layer 2 network-based. This was caused by low construction costs and airdrop speculation, climbing into the third largest chain by trading volume.
However, Gherghelas said Ethereum “still remains a major power” and is leading a 61% advantage in the NFT industry. In August, the developer also introduced unreliable agents. ”
“This allows AI systems and DAPP to safely recognize and interact with each other using NFT-based IDs and reputation layers,” added Gherghelas.
In July, American Rapper Snoop Dogg sold out a collection of around 1,000 NFTs on Telegram in 30 minutes.
Investors, degree trading NFT again
According to Dappradar, NFTS saw a slightly higher trading volume and 5.5 million sales in August, with sales of $578 million.
January was the biggest month of 2025 so far, with trading volumes of $997 million, selling only $3.1 million, while February was $498 million and sales of $2.7 million.
In his report, Gherghelas said: “This means that July and August are both NFTS’ strongest months, both volume and sales since February 2025.”
“The signs are clear. People are back in the NFT space.”
Cryptoslam strategist Yehudah Petcher told Cointelegraph in May that he thought the NFT market was ready for rebounds, but he had a more comfortable outlook than the previous highs.
There have been turbulence in the NFT market for several years. Cointelegraph reported in April that NFT volume plunged to 61% in the first quarter of 2025 to $1.5 billion, but last year was flagged as the worst year on the market for trading volume and sales since 2020.
Related: When Ether Rally loses steam, NFT’s market capitalization will decrease by $1.2 billion
But it shows signs of life. In August, the sector skyrocketed to a market capitalization of over $9.3 billion. This is an increase of 40% since July as Ethereum-based collections rose in prices along with Ether (ETH).
Top NFT Collection
According to Coingecko, the largest NFT collection by market capitalization, Cryptopunks registers 24-hour $1.2 million and five individual sales.
The second largest market capitalization, Infinex Patrons NFT Collection, granted the right to vote for holder governance over the Infinex protocol, registering 24 trading volumes of $7,733 and two sales.
Finishing the top three is Yuga Labs’ boring Ape Yacht Club, with $208,617 and five sales.
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