DeFi TVL falls 27% while AI, social apps surge in Q1: DappRadar
Total value locked (TVL) in decentralized finance (DeFi) protocols dropped to $156 billion in Q1 2025, a 27% decline due to economic uncertainty and the Bybit hack. Ether (ETH) fell 45% to $1,820, with Ethereum's TVL decreasing 37% to $96 billion. Sui experienced a 44% drop to $2 billion, while Solana, Tron, and Arbitrum saw TVLs reduced by over 30%. Blockchains with higher DeFi withdrawals and lower stablecoin shares faced additional pressure. Berachain was the only top-10 blockchain to increase its TVL, reaching $5.17 billion. In contrast, daily unique active wallets (DUAW) for AI protocols rose 29% and for social apps by 10%. Monthly averages for these categories reached 2.6 million and 2.8 million DUAWs, respectively. NFT trading volume fell 25% to $1.5 billion, with OKX leading sales. Pudgy Penguins NFTs were the top collectibles sold at $177 million, while CryptoPunks maintained significant prestige despite price fluctuations.
