The booming NFT market has significantly impacted Ethereum's price trends. As NFTs, built primarily on Ethereum's blockchain, surge in popularity, demand for ETH—the currency used for NFT transactions—rises sharply. This increased utility drives Ethereum's value, as buyers need ETH to mint, buy, or trade NFTs, tightening supply and pushing prices upward. Data from 2021-2022 shows ETH price spikes often aligned with major NFT sales, like Beeple’s $69 million artwork. However, the correlation isn’t absolute; market speculation, gas fee fluctuations, and broader crypto trends also play roles. High NFT activity can strain Ethereum’s network, raising fees and sometimes deterring smaller investors, which may temper price gains. Still, with Ethereum’s shift to Proof-of-Stake via the Merge, scalability improvements could further boost NFT adoption, supporting ETH’s long-term price growth.