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Key TakeawaysDeFi TVL reached a record $270B in July, up 30% month-over-month, fueled by growth in tokenized stocks.Tokenized stock wallets jumped from ~1,600 to over 90,000, boosting market cap by 220%.NFT DApps drew slightly more active users than DeFi — 3.85M vs. 3.84M daily active wallets.NFT trading volume surged 96% to $530M, with average prices doubling to $105.Ethereum marketplace Blur captured up to 80% of daily NFT volume; OpenSea led in active traders.Tokenized Stocks Boost DeFi Liquidity to Record HighDecentralized finance (DeFi) protocols saw locked liquidity climb to an all-time high of $270 billion in July, according to DappRadar. This 30% month-over-month jump was partly driven by surging interest in tokenized stocks, whose active wallets soared from roughly 1,600 to over 90,000, pushing their market capitalization up 220%.NFT Activity Overtakes DeFi in UsersDespite DeFi’s record liquidity, NFT applications drew slightly more daily active wallets — 3.85 million compared to DeFi’s 3.84 million.Ethereum-based marketplace Blur dominated trading, capturing up to 80% of daily NFT volume, while OpenSea led in user count with ~27,000 traders. New entrants like Zora gained traction with its creator-focused Layer 2 and $ZORA token for low-cost minting.Brands Drive NFT MomentumMajor consumer brands continued to test blockchain engagement:Nike.SWOOSH partnered with EA Sports for virtual sneaker drops.Louis Vuitton, Rolex, and Coca-Cola (China) piloted authentication and collectible NFTs.July NFT trading volume rose 96% to $530M from June’s $389M, while the average NFT price doubled to $105. Ethereum’s CryptoPunks led high-value sales, accounting for nine of the top ten NFT trades in the past 24 hours.NFT Market Still Well Below 2021 PeaksDespite July’s rebound, NFT activity remains muted compared to the 2021 boom. DappRadar’s 2024 review recorded a 19% year-over-year drop in trading volume and an 18% decline in sales. CryptoSlam data shows H1 2025 NFT sales totaled $2.82B, down 4.6% from the second half of 2024.While blue-chip collections like CryptoPunks are regaining traction, total NFT trading volume is still far from the tens of billions seen during the 2021 market frenzy.