Locked liquidity for Decentralized Financial (DEFI) applications reached a record of $270 billion in July.
Dappradar’s data shows that the locked total value (TVL) of the Defi protocol jumped 30% in months, with active wallets in tokenized inventory rising by around 1,600 to over 90,000, resulting in a 220% increase in market capitalization.
Meanwhile, NFT trading volume rose 96% that month to $530 million. The average NFT price doubled to about $105, as more users are engaged in the market.
The edge of the NFT activity edges before defi
While defi liquidity was rising, user attention shifted elsewhere. In July, approximately 3.85 million of the 22 million active wallets interacted with NFT DAPP daily.
Ethereum-based marketplace brule drove much of its activity, earning up to 80% of its daily NFT volume, while Opensea has surpassed active users with around 27,000 traders. Zora also gained momentum with creator First Layer 2 and $ZORA tokens for low-cost mint.
https://www.youtube.com/watch?v=hpnl-1zrqxk
Major brands continued to experiment with NFTs. Nike.swoosh has partnered with EA Sports for Virtual Sneaker Drops, and Louis Vuitton, Rolex and Coca-Cola (China) have launched certified and collectable pilots.
NFT trading volume also rose about 36% in July, up from $389 million in June, but has declined from 2025 at $997 million in January.
Source: DAPP Radar
As reported by Cointelegraph, there has been a revival of interest in OG NFT collections like Cryptopunks. Data from NFT floor prices shows that Ethereum-based collections have risen by more than 25% over the past month.
Over the past 24 hours, nine of the top 10 NFT sales have been crypto plants. The only non-punk sale is NFT from web3 artist Beeble.
The NFT market is far from the 2021 boom
Despite the rebound in July, the NFT remains overwhelming compared to past peaks. Dappradar’s 2024 industry overview shows that NFT trading volume fell 19% a year ago and sales fell 18%, making 2024 one of the weakest years since 2020.
Cryptoslam data for H1 2025 further highlights slow recovery. NFT sales totaled $2.82 billion, down 4.6% from the second half of 2024.
There was a notable revival in July, but trading volumes and floor prices have risen, but when trading volumes went down to tens of millions, the market was well below the 2021 high.