Ethereum Marks Milestone With Digital Torch Relay And Old Token Burns

Ethereum has just marked 10 years since its launch. It rolled out a symbolic NFT called “The Ethereum Torch” to honor its community. The token will travel from one wallet to another day by day. Then it will be burned to make way for a fresh celebratory NFT that anyone can mint for free. Ethereum Torch Tour Highlights Community Spirit According to the Ethereum Foundation’s X account, Joseph Lubin, a co‑founder of Ethereum and founder of ConsenSys, will kick off the torch as its first holder on July 21. After 24 hours in his wallet, the torch moves on. It will spend 10 days hopping across a selected list of community members. Based on reports, each handover is chosen to show off the network’s global reach. 0/ The Ethereum Torch is now lit. The Torch is an NFT honoring the people and values that have shaped Ethereum’s first decade and will help build its future. It will be symbolically passed from wallet to wallet in the 10 days leading up to Ethereum’s 10 year anniversary. pic.twitter.com/nEIY8JOIna — Ethereum (@ethereum) July 20, 2025 The torch will wrap up its journey on July 30, when the Foundation plans to burn the NFT. That burn is meant to close out one era of the network and launch the next. After the burn, a brand new torch will be freely claimable through the official Ether website, giving more people a piece of the celebration. NFT Market Sees Notable Revival On‑chain data shows a sharp rebound in NFT trading . Total weekly sales across all blockchains topped $110 million last week. Ethereum projects accounted for about $75 million of that sum. That represents a 300% jump from figures two weeks earlier. The spike arrived alongside a 50% rise in ETH price since July 6. Collectors and traders are turning back to digital art and collectibles in growing numbers. Based on reports, this uptick could signal renewed confidence after a weak 2024, when NFT trading fell 18% compared to 2023. Cross‑Chain Activity And Big Purchases Other blockchains posted mixed results. Bitcoin‑based collectibles hit almost $26 million in weekly volume. That’s nearly double the $11 million registered in early July. Polygon trading made a slight retreat during the same period. These shifts suggest interest is spreading but still centers on major players. Meanwhile, Cboe BZX has filed an application for a new ETF with Canary Capital. The move would hold PENGU tokens tied to the Pudgy Penguins collection. Featured image from Unsplash, chart from TradingView