In July, locked liquidity in decentralized finance (DeFi) applications hit a record $270 billion, fueled by the rise of tokenized stocks. DappRadar reported a 30% month-over-month increase in total value locked (TVL) in DeFi protocols, with active wallets for tokenized stocks surging from about 1,600 to over 90,000, resulting in a 220% market cap increase. NFT trading volumes also saw a significant rise, climbing 96% to $530 million, while average NFT prices doubled to around $105. Despite this growth, user engagement shifted, with 3.85 million of 22 million daily active wallets interacting with NFT DApps, slightly surpassing DeFi activity. The Ethereum marketplace Blur dominated, capturing 80% of daily NFT volume, while OpenSea led in active users. Major brands like Nike and Louis Vuitton explored NFTs, although overall NFT trading volume remains down 19% year-over-year. Despite a rebound in July, the market is still far from its 2021 highs, indicating a slow recovery. Read more AI-generated news on: https://app.chaingpt.org/news

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