DropToZeroDon'tCry
2025 Year #DeFi Panorama Review: The Retreat of Frenzy and the Formation of Structure
In 2025, DeFi experienced a classic rollercoaster market cycle of **“peak frenzy → Q4 flash crash → calm reversion”**.
The total value locked (TVL) reached a historic high of 277.6 billion USD at one point, then rapidly declined in Q4 to 189.3 billion USD, with an annual increase of only 3.86%.
Prices fluctuated while the structural consolidation accelerated.
1️⃣ Market Pattern: Winner Takes All, Top Players Stronger
The top 14 protocols account for over 75% of TVL, further deepening monopolization.
Meanwhil
In 2025, DeFi experienced a classic rollercoaster market cycle of **“peak frenzy → Q4 flash crash → calm reversion”**.
The total value locked (TVL) reached a historic high of 277.6 billion USD at one point, then rapidly declined in Q4 to 189.3 billion USD, with an annual increase of only 3.86%.
Prices fluctuated while the structural consolidation accelerated.
1️⃣ Market Pattern: Winner Takes All, Top Players Stronger
The top 14 protocols account for over 75% of TVL, further deepening monopolization.
Meanwhil
AAVE-1,7%








