Decentralized Finance (DeFi) activity soared in 2025, with lending fees reaching $20 million and decentralized exchange (DEX) volumes hitting $177 billion. This surge highlights significant market participation and growth within the DeFi sector. Leading the lending markets were Aave V3 and Morpho V1, while over 79 DeFi protocols generated substantial revenue, underscoring the ecosystem's strength and maturity.
Total Value Locked (TVL) in DeFi increased dramatically from $2 billion to $50 billion, as stable annual percentage yields (APYs) attracted a wide range of investors. This growth marks DeFi's evolution into a mainstream component of global financial infrastructure, reflecting its increasing acceptance and integration into traditional financial systems.
DeFi Fees and Trading Volume Reach Record Highs in 2025
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