PANews reported on October 9th that Cointelegraph reported that according to the latest data from DappRadar, the DApp industry saw mixed performance in the third quarter of 2025. DeFi liquidity soared to a record high, but user activity declined significantly. The report showed that daily unique active wallets averaged 18.7 million during the quarter, a 22.4% decrease from the previous quarter, while the TVL of DeFi protocols reached a record high of $237 billion. The report noted a discrepancy between institutional capital inflows into blockchain financial platforms and retail investor participation in DApps. While DeFi TVL reached a record high, overall activity lagged, with retail investor participation weakening.

DappRadar reports that active wallet counts declined across all categories throughout the quarter, with the Social and AI categories being the most impacted. AI DApps lost over 1.7 million users, with average daily users dropping from 4.8 million to 3.1 million. SocialFi DApp users also dropped from 3.8 million to 1.5 million. Furthermore, Ethereum led the DeFi network rankings with $119 billion in locked assets, a 4% decrease from the previous quarter. Solana ranked second, with its TVL falling 33% to $13.8 billion. BNB Chain ranked third, with its TVL increasing 15% from the previous quarter.