DeFi soars with tokenized stocks, but user activity shifts to NFTs: Report
NFT DApps drew slightly more active users than DeFi in July, even as DeFi liquidity hit a record $270B.
Locked liquidity on decentralized finance (DeFi) applications reached a record $270 billion in July, partly driven by tokenized stocks growth.
DappRadar’s data shows the total value locked (TVL) in DeFi protocols jumped 30% month-over-month, while active wallets for tokenized stocks soared from roughly 1,600 to more than 90,000, pushing their market cap up 220%.
Meanwhile, NFT trading volumes jumped 96% to $530 million during the month. The average NFT price also doubled to around $105 as more users engaged with the market.