Ethereum has just marked ten years since its launch. It rolled out a symbolic NFT called “The Ethereum Torch” to honor its society.
The token will travel from a wallet to another day by day. Then it will be burned to make room for a new festive NFT that anyone can coin for free.
Ethereum Torch Tour highlights Community Spirit
According to Ethereum Foundation’s X -Account, Joseph Lubin, a fellow customer of Ethereum And founder of Consensys, will start the torch as its first holder on July 21.
After 24 hours in his wallet, the torch continues. It will spend ten days skipping a selected list of members of the community. Based on reports, each surrender is chosen to showcase the network’s global reach.
0/ Ethereum Torch is now illuminated.
The torch is an NFT who honors the people and values that have shaped Ethereum in the first decade and will help build their future.
It will be symbolically transferred from wallet to wallet during the ten days until Ethereum’s 10th birthday. pic.twitter.com/neiy8joina
– Ethereum (@ethereum) July 20, 2025
The torch will end its trip on July 30, when the foundation plans to burn NFT. This burn is supposed to close an era of the network and launch the next.
After the burns, a brand new torch will be freely demanding through the official ether website, giving more people a bit of the celebration.
NFT market sees remarkable revival
Data on the chain shows a sharp recovery in NFT trading. Total weekly sales over all blockchains topped $ 110 million last week.
Ethereum projects accounted for about $ 75 million of that sum. It represents a 300% jump from numbers two weeks earlier.
The nail arrived together with a 50% increase in the ETH price since July 6. Collectors and traders return to digital art and collectibles in growing numbers.
Based on reports, this uptake was able to signal renewed confidence after a weak 2024, when the NFT trade dropped 18% compared to 2023.
Transverse operations and large purchases
Other blockchains published mixed results. Bitcoin -based collector objects met almost $ 26 million in weekly bus. It is almost twice as much as the $ 11 million registered in early July.
Polygon trading made a small retreat during the same period. These shifts indicate that interest is spreading but are still centering on great players.
In the meantime, CBOE BZX Has submitted an application for a new ETF with Canary Capital. The move would keep the Pengu’s tied to the Pudgy Penguins collection.
Image from Unsplash, charts from TradingView
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