DApp Industry Sees Mixed Performance in Q3 2025

According to PANews, recent data from DappRadar reveals a mixed performance in the decentralized application (DApp) industry during the third quarter of 2025. While decentralized finance (DeFi) liquidity reached an all-time high, user activity experienced a significant decline. The report indicates that the average daily unique active wallets for the quarter stood at 18.7 million, marking a 22.4% decrease from the previous quarter. Meanwhile, the total value locked (TVL) in DeFi protocols soared to a record $237 billion. The report highlights a disparity between institutional capital inflow into blockchain financial platforms and retail participation in DApps. Despite the record levels of DeFi TVL, overall activity lagged, with retail engagement diminishing. DappRadar noted a decline in active wallets across all categories throughout the quarter, with social and AI categories being the most affected. AI DApps saw a user loss of over 1.7 million, with daily users dropping from 4.8 million to 3.1 million. SocialFi DApps experienced a decrease from 3.8 million to 1.5 million users. Ethereum maintained its position as the leading DeFi network with $119 billion in locked assets, despite a 4% quarter-over-quarter decline. Solana ranked second, with its TVL decreasing by 33% to $13.8 billion. The BNB Chain secured the third spot, witnessing a 15% increase in TVL.