NFT DApps Surpass DeFi in Active Users Amid Record Liquidity and Trading Volume Growth


  • DeFi liquidity hit a record $270 billion, driven by tokenized stocks.

  • NFT trading volumes surged 96% to $530 million in July.

  • Ethereum’s Blur marketplace captured up to 80% of daily NFT volume.

Discover how NFT DApps outperformed DeFi in July, with record liquidity and trading volumes driving user engagement in the crypto space.

Metric Value Comparison
DeFi Liquidity $270 billion 30% increase from June
NFT Trading Volume $530 million 96% increase from June

What is Driving NFT Activity Over DeFi?

The rise in NFT DApps can be attributed to a significant increase in user engagement, with approximately 3.85 million active users interacting with NFTs in July. This shift comes even as DeFi liquidity reached a historic high.

How Are Major Brands Engaging with NFTs?

Major brands like Nike and Louis Vuitton are experimenting with NFTs, launching initiatives that include virtual sneaker drops and collectible pilots. This engagement is helping to drive user interest and market activity.


Frequently Asked Questions

Why did NFT DApps attract more users than DeFi?

In July, NFT DApps attracted more users due to a significant increase in trading volumes and brand engagement, surpassing DeFi in active participation.

What are the implications of rising NFT trading volumes?

The rise in NFT trading volumes indicates a growing interest in digital assets, suggesting potential for future market expansion and innovation.


Key Takeaways

  • Active Users: NFT DApps surpassed DeFi in July with 3.85 million active users.
  • Record Liquidity: DeFi liquidity reached $270 billion, marking a significant increase.
  • Brand Engagement: Major brands are increasingly investing in NFT initiatives, driving market interest.

Conclusion

While NFT DApps have gained traction, the overall market remains below its 2021 highs. The increase in trading volumes and active users indicates a potential recovery, but challenges persist. As brands continue to explore NFTs, the landscape may evolve, offering new opportunities for investors and creators alike.


  • 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.

Related: OpenSea expands to mobile with Rally deal, eyes ‘onchain everything app’

NFT activity edges ahead of DeFi

While DeFi liquidity climbed, user attention shifted elsewhere. In July, approximately 3.85 million of the 22 million daily active wallets interacted with NFT DApps — slightly more than were active in DeFi.

Ethereum-based marketplace Blur drove much of the activity, capturing up to 80% of daily NFT volume, while OpenSea topped active users at roughly 27,000 traders. Zora also gained momentum with its creator-first layer 2 and $ZORA token for low-cost minting.

Major brands continued experimenting with NFTs. Nike.SWOOSH partnered with EA Sports for virtual sneaker drops, and Louis Vuitton, Rolex and Coca-Cola (China) launched authentication and collectible pilots.

NFT trading volume also rose about 36% in July to $530 million, up from $389 million in June, though it’s still down from its 2025 high of $997 million in January.

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Source: Dapp Radar

As reported by Cointelegraph, there has been a resurgence in interest in OG NFT collections like CryptoPunks. Data from NFT Floor Price shows the Ethereum-based collection is up over 25% the past month.

During the past 24 hours, nine of the top 10 NFT sales were CryptoPunks: The lone non-Punk sale being an NFT from the Web3 artist Beeble.

Related: Memecoin $79B rally means capital has nowhere better to go: Exec

NFT market is still far from its 2021 boom

Despite July’s rebound, NFTs are still underwhelming compared to past peaks. DappRadar’s 2024 industry overview shows that NFT trading volume dropped 19% year-over-year, and sales counts declined 18%, making 2024 one of the weakest years since 2020.

CryptoSlam data for H1 2025 further underscores the slow recovery: NFT sales totaled $2.82 billion, down 4.6% from the second half of 2024.

While there was a notable resurgence in July, with trading volume and floor prices rising, the market still well below its 2021 highs, when trading volumes ran into the tens of billions.

Web3 Gamer: GUN token’s $69M milestone, Pudgy Penguins go to LOL Land

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