Ethereum’s recent surge in market cap and price happened right on time for its 10th anniversary. To mark this milestone, Ethereum has unveiled a symbolic digital torch in the form of an NFT to honor its community and growth. On Monday, July 21, the Ethereum Foundation shared the plan on its X account. It says the token, called “ The Ethereum Torch ,” will move from one wallet to another every 24 hours through July 30. 0/ The Ethereum Torch is now lit. The Torch is an NFT honoring the people and values that have shaped Ethereum’s first decade and will help build its future. It will be symbolically passed from wallet to wallet in the 10 days leading up to Ethereum’s 10 year anniversary. pic.twitter.com/nEIY8JOIna — Ethereum (@ethereum) July 20, 2025 That schedule reflects ten days of handovers to celebrate the network’s first decade. Joseph Lubin, a co‑founder of Ethereum and founder of ConsenSys, will begin as the first holder. After 24 hours, the torch will pass to the next member. Organizers chose each participant to show Ethereum’s worldwide reach and collective spirit. The sequence is meant to highlight the project’s global community of developers. Eventually, on July 30, the torch non-fungible token will be burned. The Foundation says the burning marks both the end of Ethereum’s previous phase and the start of the next phase. After this, a new non-fungible token will become available for minting freely as a token of celebration. The NFT will be like a reminder of Ethereum’s growth since 2015. It will be freely claimable through the official Ethereum website. The announcement gave rise to discussions online, with many users praising the torch’s symbolism. As of now, the Ethereum Torch NFT is not listed on OpenSea , so it cannot be bought or sold on that platform. 10 years Ethereum torch on OpenSea. Source: OpenSea That limited availability keeps the focus on the project’s message rather than on trading. It also reinforces the idea that the token’s value lies in what it represents for the network’s users and builders. The Ethereum NFT market is showing signs of life again On‑chain figures show a strong rebound in NFT trading. Last week, total NFT sales on all chains topped $110 million, the highest weekly total in the last 6 months. Projects built on Ethereum made up a sizeable chunk of that figure. They recorded about $75 million in volume, a roughly 300 percent jump from two weeks earlier. This surge coincided with a nearly 50 percent rise in Ethereum’s price since July 6, which has drawn in collectors and traders back to the market. Analysts say this spike could signal a renewed confidence in digital art and collectibles. The rebound follows a weak 2024 for NFTs, when trading fell 18 percent from the previous year. Other chains saw mixed results. Bitcoin‑based digital collectibles reached $25.6 million in weekly volume, almost double the $11 million seen in early July. Meanwhile, trading on Polygon dipped slightly. These shifts suggest interest in NFTs is spreading but remains centered on the biggest players. On the institutional side, Cboe BZX has filed for a new exchange‑traded fund with Canary Capital that would hold PENGU tokens tied to the Pudgy Penguins collection. NFT market data. Source: CoinGecko According to CoinGecko data, Pudgy Penguins rank second in volume among all NFT series, trailing only CryptoPunks and outpacing Bored Ape Yacht Club derivatives. In a sign of renewed demand, one buyer spent $8.5 million to purchase 48 CryptoPunks in a single transaction. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
