Analysis of the Development Status of the DeFi Industry in 2025

Since 2025, the Decentralized Finance (DeFi) industry has been developing well. The regulatory environment has shifted from a previously hostile stance to a more friendly attitude, and various indicators show that the adoption rate of DeFi continues to rise. Let's take a deeper look at the current state of DeFi through 7 charts.

DEX and CEX Trading Volume Comparison Hits New Highs

Decentralized exchanges (DEX) are gradually eating into the market share of centralized exchanges (CEX). Although the process is slow, the trend is evident. Taking perpetual contract DEX as an example, its share in the derivatives market has grown 11 times from 0.98% in June 2022 to the current level.

The Rapid Rise of Emerging DEXs

A certain emerging DEX platform surpassed the daily trading volume of the leading DEX on Ethereum in less than a year since its launch. The platform is about to launch its V2 version, which is expected to significantly improve capital efficiency. It would not be surprising if it ultimately succeeds within the Ethereum ecosystem.

Innovative Stablecoins Lead Capital Inflow

Recently, a new type of yield-bearing stablecoin has surpassed the net inflows of the two major stablecoins, USDT and USDC, for the first time in two weeks. This change is significant, indicating that crypto-native solutions are challenging the dominance of traditional stablecoins. It is expected that in the coming months, several innovative stablecoin projects will continue to experience exponential growth.

Performance Analysis of Ethereum Spot ETF

After several weeks of continuous inflows, the Ethereum spot ETF recently experienced the largest single-day outflow on record. This may be due to some traditional financial institutions choosing to lock in profits. However, from a macro perspective, the past two months have still been the best period for the performance of the spot Ethereum ETF.

Comparison of Attention Between DeFi and AI

Over the past year, artificial intelligence (AI) has consistently led in public attention. However, this situation is changing. In recent months, the interest in Decentralized Finance (DeFi) has more than doubled, while the popularity of meme coins has significantly decreased. This indicates that the market is refocusing on the fundamentals of projects.

The Token Buyback Plan Shows Significant Results

In 2025, projects implementing token buyback plans performed the best. This trend indicates that the market is beginning to favor tokens with solid fundamentals. Protocols in multiple DeFi subcategories have adopted token buyback strategies, including projects in decentralized derivatives trading, lending, staking, and other areas.

Exchange Bitcoin reserves continue to decline

Since the launch of the first Bitcoin spot ETFs in the United States in February 2024, the reserves of Bitcoin on exchanges have continued to decrease. This stands in stark contrast to the previous bull market situation. In this cycle, the inflow of funds into Bitcoin ETFs and the purchasing demand from institutional investors have had a significant positive impact on Bitcoin prices.

These data charts comprehensively reflect the current development status of the DeFi industry in 2025, showcasing advancements and innovations in various aspects of the field.