Decentralized Finance发展迎来新机遇：七张图表解读行业现状

Since 2025, the Decentralized Finance (DeFi) industry has seen significant development. The regulatory environment has gradually turned friendly, and various indicators show that the adoption rate of DeFi is continuously increasing. Let's take a closer look at the latest developments in DeFi through seven charts.

The market share of decentralized exchanges continues to grow

Decentralized exchanges are gradually eating into the market share of centralized exchanges. Data shows that in June 2022, the share of perpetual contract DEX in the derivatives market was only 0.98%. Three years later, this figure has increased elevenfold, demonstrating a clear upward trend.

Emerging DEXs Rise

A certain emerging DEX has performed impressively since its launch, with reports indicating that its daily trading volume once surpassed that of the leading DEXs on Ethereum. The platform is set to launch its V2 version, which is expected to bring significant improvements in capital efficiency and further solidify its position within the Ethereum ecosystem.

Innovative Stablecoins Are Emerging

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

The performance of Ethereum spot ETFs tends to stabilize

The Ethereum spot ETF recently experienced the largest single-day outflow on record after several weeks of record inflows. This may be the result of some traditional financial institutions choosing to take profits. Nevertheless, from a macro perspective, the past two months have still been the best performing phase for the spot Ethereum ETF.

Decentralized Finance关注度逼近AI

Over the past year, artificial intelligence (AI) has been the focus of public attention. However, in recent months, the attention on DeFi has more than doubled, gradually narrowing the gap with AI. At the same time, market interest in Meme coins has significantly decreased, indicating that investors are placing more importance on the fundamentals of projects.

The token buyback plan has shown significant results.

In 2025, projects implementing token buyback plans performed particularly well. This reflects that the market is beginning to favor tokens with solid fundamentals. Projects from various fields have adopted buyback strategies, including derivatives trading, lending, and other types of protocols.

The Bitcoin reserves of exchanges continue to decline

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

These data charts reflect the latest developments in the Decentralized Finance industry, showcasing the progress and innovation in various aspects of the industry. With the improvement of the regulatory environment and the continuous advancement of technology, the DeFi sector is expected to maintain strong development momentum in the future.