Latest data shows that the global NFT market exhibited significant signs of recovery in July. Although the volume slightly decreased, the total sales surged to 570 million USD, marking a 47.6% month-on-month growth and setting the second highest monthly record of the year.

This strong rebound is mainly driven by high-priced asset trading, with the average transaction price rising to $113.08, setting a new six-month high. Notably, there has been an interesting change in market structure: the number of buyers has decreased by 17%, while the number of sellers has increased by 9%, reflecting an adjustment in the behavior patterns of market participants.

What is more striking is that the overall market value of NFTs has surpassed 8 billion USD, an increase of 21% compared to late July, clearly indicating that capital is flowing back into this field. This growth trend is closely related to the price movement of Ethereum, which rose more than 60% from July to early August.

NFT projects on the Ethereum network have also benefited, with market capitalization rising accordingly. This series of positive signals indicates that the NFT market may be entering a new growth cycle. However, market participants still need to exercise caution and closely monitor potential risks and regulatory trends in order to make informed decisions in this rapidly evolving field.