Ethereum’s 10th Anniversary: Torch NFT Unveiled Amidst Major NFT Market Rebound

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By Tyler Matthews

Ethereum has commemorated its decade of pioneering blockchain innovation with the “Ethereum Torch” non-fungible token (NFT). This symbolic initiative aligns with a significant resurgence in the broader NFT market, particularly on the Ethereum network, highlighting renewed investor confidence and a notable uptick in trading volumes after a challenging period.

  • Ethereum’s 10th anniversary is celebrated with the “Ethereum Torch” NFT.
  • The “Ethereum Torch” NFT circulates daily among wallets, concluding its journey on July 30, 2025.
  • Ethereum co-founder Joseph Lubin initiated the torch’s first transfer.
  • Upon its final transfer, the torch will be burned, followed by a new free commemorative NFT for minting.
  • The “Ethereum Torch” NFT is symbolic and not intended for commercial trading.

In celebration of its 10th anniversary, the Ethereum Foundation introduced this digital torch. As announced on its X account, this unique token is programmed to circulate daily among various wallets, culminating its journey on July 30, 2025. Joseph Lubin, Ethereum co-founder and ConsenSys founder, initiated the torch’s transfer, with subsequent participants selected to embody the network’s global reach and collaborative spirit. The torch’s progression aims to underscore Ethereum’s dynamic worldwide community of developers and contributors.

Upon its final transfer, the Ethereum Torch NFT will undergo a ceremonial burning, symbolizing the conclusion of Ethereum’s foundational phase and the inception of its next chapter. Subsequently, a new commemorative NFT will be made freely available for minting, designed to serve as a lasting memento of this significant milestone. Crucially, the Ethereum Torch NFT is not designated for commercial trading; it has deliberately not been listed on major marketplaces such as OpenSea. This emphasizes its inherent symbolic value over any speculative potential, reinforcing the project’s message by rooting its worth in community and representation rather than purely market dynamics.

Ethereum NFT Market Sees Significant Rebound

The anniversary celebrations coincide with a significant recovery across the broader NFT market. Recent on-chain data reveals that total NFT sales across all blockchain networks surpassed $110 million last week, marking the highest weekly aggregate in six months. A substantial portion of this activity, approximately $75 million in volume, originated from Ethereum-based projects. This figure represents a remarkable 300 percent increase in volume compared to two weeks prior, a surge that closely tracks a nearly 50 percent rise in Ethereum’s price since early July. Analysts suggest this robust rebound reflects renewed confidence in the digital art and collectibles sector, particularly following a comparatively subdued period in early 2024. While other blockchains also experienced varying levels of NFT engagement, Ethereum has solidified its position as a primary hub for this burgeoning digital asset class.

Beyond retail trading, institutional interest in NFTs also appears to be gathering momentum. Cboe BZX has notably filed for a new exchange-traded fund (ETF) in collaboration with Canary Capital, which proposes to hold PENGU tokens linked to the prominent Pudgy Penguins collection. According to CoinGecko data, Pudgy Penguins ranks among the top NFT series by volume, second only to CryptoPunks. Further underscoring the renewed demand for high-value digital assets, a single buyer recently invested $8.5 million to acquire 48 CryptoPunks in one transaction. These developments collectively signal a maturing market, increasingly attracting both individual collectors and sophisticated institutional capital.

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