Ethereum Unveils NFT Torch for 10-Year Anniversary
Key Takeaways
• Ethereum unveiled a symbolic NFT torch to celebrate its upcoming 10-year anniversary, with daily transfers between community members until it is burned on July 30.
• A commemorative NFT will be freely mintable by the public on July 30, reflecting Ethereum’s values of decentralization and community ownership.
• NFT trading volume on Ethereum surged 300% in two weeks, reaching $75 million and driving a broader market rebound.
• Ethereum’s price appreciation has reignited interest in digital collectibles, especially from long-time holders and NFT-native communities.
• Ethereum remains the leader in NFT volume, outperforming Bitcoin and Polygon amid renewed institutional interest and cultural milestones.
A Digital Ritual for Ethereum’s Decade Milestone
As Ethereum approaches its 10-year anniversary on July 30, the network is marking the occasion with a community-driven symbolic gesture: the Ethereum Torch. This unique non-fungible token (NFT) began its journey on July 21 and will be passed daily from one wallet to another, highlighting the global and decentralized nature of Ethereum’s ecosystem.
The initiative, announced by the Ethereum Foundation, is designed to honor the people, ideas, and principles that have shaped the protocol since its launch in 2015. The ceremonial first holder of the torch is Joseph Lubin, Ethereum co-founder and founder of ConsenSys.
Each day, a prominent builder or community figure will hold the NFT for 24 hours before passing it on. The procession ends on July 30, when the torch will be permanently burned—marking the end of Ethereum’s first chapter and the symbolic beginning of its next.
To allow broader participation, the network will also release a commemorative NFT on July 30. Anyone will be able to mint this token freely as a digital keepsake of Ethereum’s decade-long journey. The move reinforces Ethereum’s founding values: open access, transparency, and decentralized participation.
NFT Market Reawakens as Ethereum Leads the Way
While the Ethereum Torch reflects cultural pride and community celebration, the broader NFT market is experiencing a resurgence—and Ethereum is leading the charge.
Weekly NFT trading volumes across all blockchains climbed above $140 million last week, the highest level in over six months. Ethereum-based collections accounted for more than half that total, registering $75 million in volume. That marks a 300% increase from just two weeks earlier, when Ethereum NFTs recorded only $18.3 million in trades.
This market recovery aligns with Ethereum’s recent price surge. Since July 6, ETH has gained nearly 50%, drawing renewed attention to digital assets and reactivating many previously dormant NFT traders. Legacy collections and prominent creators have seen increased engagement, with volume and floor prices both trending higher.
Activity has also grown on Bitcoin’s Ordinals-based NFTs, which saw weekly volumes more than double to $25.6 million. In contrast, NFT trading on Polygon dipped slightly, suggesting Ethereum is reclaiming its role as the dominant platform for digital collectibles.
Institutions Take Note Amid Market Revival
Ethereum’s NFT momentum isn’t limited to individual traders. Institutional interest is building as well. Most notably, Cboe BZX recently filed for a new ETF on behalf of Canary Capital that would hold PENGU, a token tied to the Ethereum-native Pudgy Penguins NFT brand.
This signals a growing willingness among traditional financial institutions to engage with Ethereum’s NFT ecosystem—not just from a technical standpoint, but as a cultural and economic phenomenon.
Conclusion: A Symbolic Burn and a Reignited Market
Ethereum’s 10-year celebration is more than a retrospective—it’s a signal of what’s to come. The Ethereum Torch exemplifies the network’s evolution: collaborative, global, and constantly innovating. Its final burn on July 30 will symbolize the closing of one era and the launch of another.
As the community prepares for this milestone, Ethereum’s position as the heart of the NFT ecosystem is reaffirmed. With rising trading volumes, institutional participation, and cultural relevance converging, Ethereum is once again setting the pace for digital assets—just as it did ten years ago.
