NFTs Poised to Push Ethereum Past $3,800, Animoca Chair Says

- Siu highlights NFTs as essential to Ethereum's cultural and economic momentum. - Despite a 45% drop in Q2 2025 trading volume, NFT transactions surged by 78%. On July 21, 2025, Cryptopolitan reported that Animoca Brands Chairman Yat Siu expressed optimism that renewed interest in non-fungible tokens (NFTs) could propel Ethereum to new all-time highs. Siu considers NFTs a crucial component of Ethereum's cultural economy, emphasizing their intrinsic value extends beyond speculative trading. His comments arrive amid mixed market signals for NFTs, which reflect notable shifts in trading activity and buyer behavior. According to data from DappRadar, NFT trading volume fell 45% in the second quarter of 2025, declining from $1.5 billion in the first quarter to $823 million. However, the number of NFT sales transactions surged by 78% to roughly 12.5 million during the same period, a trend indicating a pivot toward smaller, more frequent purchases. The average NFT sale price on Ethereum now ranges between $80 and $100. Simultaneously, the number of active monthly NFT traders grew by 20% quarter-over-quarter, reaching an average of 668,598 users. Renewed attention on NFTs has been significantly driven by Ethereum's price recovery, as its value surged by more than 133% over the past three months to surpass $3,800 for the first time since February 2024. This price escalation has in turn fueled the combined NFT market capitalization, which is approaching $11 billion. Ethereum continues to dominate the NFT landscape, accounting for roughly half of all NFT trading volume. Siu underscored the cultural relevance of NFTs within Ethereum’s ecosystem, asserting that their value extends beyond financial speculation. He believes this cultural, community-driven foundation could sustain Ethereum's long-term growth as the overall crypto market also shows signs of a rebound. According to market data, Ethereum (ETH) was trading at $3,846.19 as of 15:15 UTC on July 21, representing a 2.23% increase over the previous 24 hours.