DeFi Liquidity Hits $270 Billion as NFT Market Gains Momentum
- Total value locked (TVL) in DeFi protocols rose by 30% month-over-month to $270 billion.
- Active wallets for tokenized stocks increased from approximately 1,600 to over 90,000, resulting in a market cap surge of 220%.
- NFT trading volumes surged by 96% to $530 million, with average prices doubling to around $105.
- Approximately 3.85 million daily active wallets engaged with NFT DApps, slightly surpassing those active in DeFi.
- The Ethereum-based marketplace Blur accounted for up to 80% of daily NFT volume.
In July, the resurgence in both NFT and DeFi activity indicates a shifting user focus within the cryptocurrency space, with significant growth seen in tokenized stocks and NFT engagement.
Despite the notable increase in NFT trading volume and DeFi liquidity, overall NFT sales remain down compared to previous highs, reflecting ongoing market challenges (Source).
