Key takeaways
Ethereum is celebrating its 10-year anniversary with a symbolic NFT torch that reflects its ethos. The milestone comes as ETH leads the NFT market and posts strong price and market cap gains.
Ten years ago, Ethereum [ETH] set out to be more than just a cryptocurrency. It aimed to become the foundation for a decentralized internet.
Now, as the network begins celebrating its 10-year anniversary, that vision is being honored in a uniquely Ethereum way: with a symbolic NFT torch passed from wallet to wallet, tracing a digital relay across the globe.
Amid a market upswing that has pushed ETH’s price and market cap higher, Ethereum is also dominating the NFT space; proving that its culture and code remain as influential as ever.
A digital relay to celebrate a decade
Ethereum has launched a unique initiative: a symbolic NFT torch that will move from wallet to wallet across the globe.
Kicking off on the 21st of July with co-founder Joseph Lubin as its first bearer, the torch will be passed daily among key community members, builders, and contributors.
Each participant will hold it for 24 hours, symbolizing Ethereum’s shared stewardship and decentralized spirit.
On the 30th of July — ten years since the network’s launch — the torch will be burned, closing one chapter and beginning another.
A commemorative NFT will also be available for anyone to mint, reinforcing Ethereum’s inclusive, open ethos and celebrating its decade-long journey.
Ethereum, the NFT leader
Last week, total NFT trading volume across blockchains topped $140 million — the strongest weekly activity in over six months.
Ethereum-based projects accounted for more than half of that, raking in $75 million in volume and spearheading the market’s rebound.
This marks a staggering 300% jump from just two weeks ago, when Ethereum’s NFT volume stood at $18.3 million.
Meanwhile, Ethereum leads all major NFT chains in metrics — $30.7 million in daily volume (+331%), $2.25 million in sales (+110%), and over $32.9 million in active listings (+302%).
Momentum builds as Ethereum hits new highs
Ethereum’s current momentum is undeniable.
The network’s market cap has surged past $458 billion (the highest in nearly eight months) after a steady recovery since late April. On the price front, ETH climbed to $3,793 at press time, gaining over 35% in July alone.
Technical indicators supported the strength of the rally: RSI was at an overheated 87.80, and MACD remained in a strong bullish crossover.
With rising NFT activity, community-driven celebrations, and a resurgent token price, Ethereum appears to be entering a renewed cycle of growth — both in terms of value and narrative — as it marks its 10-year anniversary.