DeFi’s total value locked reaches $237 billion while daily active wallets decrease 22% in Q3 2025

The DeFi sector reached a record Total Value Locked of $237 billion in Q3 2025, but daily active wallets fell 22.4%, averaging 18.7 million. This reflects a divergence between institutional investment and retail participation.

Stablecoins have become essential in linking cryptocurrencies with traditional finance. Ethereum remains the leading DeFi network, followed by Solana, while BNB Chain showed growth during this quarter.

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