NFT market cap hits $9.3B, fueled by Ether surge
The NFT market cap has hit $9.3 billion, up 40% since July, as ETH tops $4,600
The non-fungible token (NFT) sector surged to a market capitalization of more than $9.3 billion as Ethereum-based collections increased along with the price of Ether.
NFT data tracker NFT Price Floor showed on Wednesday that the overall market capitalization for NFT collections had hit $9.3 billion, a 40% uptick from July. According to DappRadar data, NFTs had a market capitalization of $6.6 billion last month.
Ether (ETH), which recently pushed past the $4,000 milestone, has been a key driver behind the NFT market surge. At the time of writing, ETH traded above $4,600 and had a market capitalization of over $557 billion, according to CoinGecko.
