DeFi’s Paradox: Record $237B TVL Contrasts with 22% Drop in Active DApp Wallets in Q3 2025

DeFi TVL hit $237B in Q3 2025, yet active DApp wallets dropped 22%. Unpack the capital surge vs. user engagement dilemma and Ethereum’s role.

DeFi TVL hit $237B in Q3 2025, yet active DApp wallets dropped 22%. Unpack the capital surge vs. user engagement dilemma and Ethereum’s role.