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DeFi TVL reached a record $237 billion in the third quarter of 2025, but DApp wallet activity fell 22% as SocialFi and AI DApps lost momentum. The decentralized application (DApp) industry ended the third quarter of 2025 with mixed results, as decentralized finance (DeFi) liquidity surged to a record high while user activity fell sharply, according to new data from DappRadar.In a report sent to Cointelegraph, DappRadar said that daily unique active wallets averaged 18.7 million in Q3, down 22.4% compared to the second quarter. Meanwhile, DeFi protocols collectively locked in $237 billion, the highest total value locked (TVL) ever recorded in the space. The report highlights an ongoing divergence between institutional capital flowing into blockchain-based financial platforms and the engagement of retail users with DApps. While DeFi TVL reached record levels of liquidity, overall activity lagged, suggesting weaker retail participation.Read more DeFi TVL reached a record $237 billion in the third quarter of 2025, but DApp wallet activity fell 22% as SocialFi and AI DApps lost momentum. The decentralized application (DApp) industry ended the third quarter of 2025 with mixed results, as decentralized finance (DeFi) liquidity surged to a record high while user activity fell sharply, according to new data from DappRadar.In a report sent to Cointelegraph, DappRadar said that daily unique active wallets averaged 18.7 million in Q3, down 22.4% compared to the second quarter. Meanwhile, DeFi protocols collectively locked in $237 billion, the highest total value locked (TVL) ever recorded in the space. The report highlights an ongoing divergence between institutional capital flowing into blockchain-based financial platforms and the engagement of retail users with DApps. While DeFi TVL reached record levels of liquidity, overall activity lagged, suggesting weaker retail participation.Read more

DeFi TVL hits record $237B as daily active wallets fall 22% in Q3: DappRadar

2025/10/09 19:00

DeFi TVL reached a record $237 billion in the third quarter of 2025, but DApp wallet activity fell 22% as SocialFi and AI DApps lost momentum.

The decentralized application (DApp) industry ended the third quarter of 2025 with mixed results, as decentralized finance (DeFi) liquidity surged to a record high while user activity fell sharply, according to new data from DappRadar.

In a report sent to Cointelegraph, DappRadar said that daily unique active wallets averaged 18.7 million in Q3, down 22.4% compared to the second quarter. Meanwhile, DeFi protocols collectively locked in $237 billion, the highest total value locked (TVL) ever recorded in the space.

The report highlights an ongoing divergence between institutional capital flowing into blockchain-based financial platforms and the engagement of retail users with DApps. While DeFi TVL reached record levels of liquidity, overall activity lagged, suggesting weaker retail participation.

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