The rally may not be sustainable, according to Arcane Research.
Monday set a new single-day sales record for CryptoPunks, and August sales have already set a monthly record, with prices for the NFTs averaging nearly $200,000.
"The market continues to hover over the 200-day moving average with bulls still in play," Zerocap's Toby Chapple told CoinDesk.
"The institutional world is turning cautious on stocks and that is making cryptocurrencies look very attractive," said one analyst.
“It just shows that staking on Eth 2.0 is incredibly popular,” said Ben Edgington, lead product owner at ConsenSys.
AVAX's price has more than doubled in the past month, according to data from Messari.
Over the past month, the token’s price has surged 92% in digital-asset markets, signaling a renewed appetite from investors.
From the end of June through now, FTX’s market share has grown from 9% to 16%.
Despite experiencing outflows for the fifth straight week, assets under management in digital funds hit their highest level since mid-May.