Ethereum recently celebrated its 10th anniversary with a fun event!
The Ethereum Torch Relay
To mark the occasion, they launched a special NFT called “The Ethereum Torch.” This NFT will be passed from wallet to wallet for 10 days, highlighting the global Ethereum community. The journey started with co-founder Joseph Lubin and will end on July 30th. After the 10-day relay, the original torch will be “burned,” symbolically ending one era and starting another. A new, free-to-mint torch NFT will then be available for everyone to claim.
NFT Market Makes a Comeback
The NFT market is also showing signs of life! Weekly NFT sales across all blockchains surged to over $110 million, with Ethereum projects accounting for a huge chunk of that – around $75 million. This is a massive 300% increase compared to two weeks prior. This revival seems linked to a recent price jump in ETH (Ethereum’s cryptocurrency). It looks like collectors are getting back into digital art and collectibles. This is a positive sign after a bit of a slump in 2024.
Beyond Ethereum
Other blockchains saw mixed results. Bitcoin-based NFTs almost doubled their sales, while Polygon saw a slight dip. This suggests that while interest is growing, the focus remains on the biggest players in the space. There’s also some big news for Pudgy Penguins fans: a new ETF (exchange-traded fund) focused on their PENGU tokens is being considered.