NFT Market Cap Reclaims $3B as Blue Chip Prices Rise
The global NFT market is showing signs of life again. According to CoinGecko data shared by Wu Blockchain on January 14. The total NFT market cap has climbed back to $3 billion. This is a big moment for a space that has been quiet for years after the massive boom of 2021.
Back then, Non-Fungible Tokens were everywhere. Prices were high. Celebrities were buying. Twitter was full of profile pictures. But after the hype faded, trading volume crashed by more than 90% and many projects disappeared. Through 2023 and 2024 most NFTs stayed stuck in a long bear market. Now in early 2026, the mood is slowly changing.
A Look at the Market Right Now
As of mid-January 2026, the total NFT market cap sits around $3.01 billion. Daily trading volume is still low compared to the old days, but it has picked up slightly, sitting near $4 million to $5 million per day. This recovery is not driven by new hype projects or meme collections. Instead, the money is flowing back into the most trusted and well-known collections, the so-called “blue-chip NFTs.” Ethereum is still the main chain for NFTs. Most serious collections live there and most trading still happens on Ethereum-based marketplaces.
Blue-Chip NFTs Lead the Comeback
The biggest gains are coming from the top names in NFTs
- CryptoPunks, the most famous NFT collection in the world, is up more than 8% over the past 7 days. Its floor price now sits near 29 ETH and it remains the largest NFT project by market value. Now controlling nearly one-third of the entire NFT market
- Bored Ape Yacht Club is also bouncing back. Its floor price rose by more than 9% in a week and is currently trading at 5.8 ETH. BAYC was one of the symbols of the 2021 bull market. Its recent rise shows collectors are returning
- Pudgy Penguins is also moving higher. Its floor price is up about 4% over the past week, trading near 5.1 ETH. Pudgy has stayed popular thanks to real-world toys, brand deals and strong community support. These collections are leading the recovery while most smaller NFTs remain quiet.
Why NFTs Are Rising Again
The NFT news today shows its bounce is closely linked to the wider crypto market. Bitcoin and Ethereum have moved higher in early 2026 and when crypto goes up, Non-Fungible Tokens usually follow. Another reason is whale activity. Long term collectors and big wallets are slowly buying again at low prices. They see blue-chip NFTs as digital art and cultural assets that could grow over time.
Projects like Pudgy Penguins have also shown that Non-Fungible Tokens can go beyond pictures and into real products, games and brands. This helps bring real value back into the space. Still, this is not a full comeback yet. Trading volumes are small and many NFTs remain illiquid.
What Happens Next?
The return to a $3 billion market cap is a big psychological level for Non-Fungible Token fans. It shows the space is not dead. It is rebuilding. If the crypto bull market continues, NFTs could slowly grow with it. But for now, the recovery is led by strong collections, not wild speculation. The NFT winter may finally be thawing slowly, but surely.