The NFT market's popularity significantly impacts Ethereum's price. As most NFTs are built on Ethereum, increased trading volume drives demand for ETH, used for transactions and gas fees. In 2021, the NFT boom, with sales like Beeple’s $69.3M artwork, coincided with ETH surging past $3,000, reflecting heightened network activity. Data shows Ethereum hosts over 97% of NFT sales, linking its price to market trends. However, when NFT hype fades, as seen in 2023 with an 83% floor price drop, ETH often faces downward pressure, though not always proportionally. Posts on X suggest NFTs may be more dollar-pegged than ETH itself, adding complexity. Ethereum’s upgrades, like Ethereum 2.0, could further amplify this relationship by enhancing scalability, potentially boosting both NFT activity and ETH value in 2025.