NFT Market Soars Past $9 Billion as Ethereum Prices Surge

The non-fungible token (NFT) market has experienced significant growth, reaching a market capitalization exceeding $9.3 billion. This surge represents a remarkable 40% increase from its July valuation, according to NFT data tracker NFT Price Floor. The rise coincides with the recent surge in Ethereum (ETH) prices, which have surpassed the $4,000 mark and are currently trading above $4,600. This price strength has propelled the overall market capitalization of ETH to exceed $557 billion, as per CoinGecko.