May 2025 marks a turning point for the entire Web3 ecosystem. According to the new Dapp Industry Report by DappRadar, we witness a significant recovery in several verticals: DeFi, NFT, and AI show concrete signs of consolidation and growth.
With 25 million daily active wallets, a 25% growth in DeFi TVL, and a 40% increase in NFT trading volume, the narrative is changing: from cyclical speculations to a concrete, mature, and distributed use of dapps.
25 Million dUAW: the Dapp Ecosystem is Growing
The report highlights how the number of daily active unique wallets (dUAW) increased by 8% compared to April, reaching 25 million. This widespread growth reflects a renewed enthusiasm from users, driven by three main sectors:
AI dapps: +23% (4.8 million dUAW)
Social dapps: +21% (4.3 million)
NFT dapps: +9% (3.9 million)
We are entering a phase in which DeFi, Gaming, and AI compete for users’ attention on an equal basis. A balance that, as highlighted by DappRadar, represents an important sign of maturity for the entire sector.
Among the emerging trends, InfoFi also stands out, the movement that is leading to the “financialization” of data in a Web3 context. A trend that will see more and more users, AI agents, and protocols exchange data, models, and insights as true financial assets, leveraging blockchain and transparency.
From Hype to Services: The Most Used Dapps of May
If April was dominated by the memecoin mania (Pump.fun above all), in May there was an transition from hype to utility. Some emblematic cases:
Uniswap V2 is confirmed as one of the most used DeFi dapps, with a significant boost linked to the new integration with Soneium, a layer-2 focused on entertainment, developed by Sony Block Solutions.
World of Dypians still dominates gaming, with a stable and engaged community.
SubHub, an AI-powered platform by Dmail, establishes itself in the social dapp landscape with personalized messaging based on wallet and DID.
In summary, the dapps that are growing the most today are not those based on speculation, but those that solve real problems: from smart communications to scalable decentralized finance, including gaming with persistent identities.
DeFi on the Rise: TVL at $200 Billion and Record Volume for Hyperliquid
The DeFi has recorded one of the best performances in recent months, with a TVL increasing by 25% bringing the total to about 200 billion dollars. The credit goes partly to the rally of Ethereum (+40%) and Bitcoin (new ATH), but also to significant infrastructural developments.
The Hyperliquid case
The most surprising dapp is Hyperliquid, a DEX that has reached a monthly trading volume of $244 billion, capturing 10% of Binance’s market share. With these figures, it enters the world’s top 5 for trading volume, surpassing numerous centralized exchanges.
Key News of May in DeFi
Ethereum Pectra Upgrade
Of course! Please provide the text you would like translated, and I’ll be happy to assist.Launch of the stablecoin EURØP on XRP Ledger, compliant with the European MiCA
Approval in the US Senate of the GENIUS Act, the first federal regulation on stablecoin issuers
South Korea opens to spot ETFs on crypto
DeFi is thus structuring itself as a concrete alternative to the CeFi world, strengthened by technical updates, regulatory clarity, and renewed investor trust.
AI in Web3: Sustained Growth and Demand for Decentralized Intelligences
With 4.8 million daily active users, AI dapps are now reassessing the AI narrative in Web3. SubHub is the most emblematic case, but the report also highlights widespread growth:
ThinkAgents.ai launches a protocol for interoperable AI agents
Tether announces its own decentralized AI platform
Assisterr (Solana) raises $2.8M for no-code SLM tool
Donut Labs receives $7M for the first agentic Web3 browser
BingX will invest $300M in a three-year AI program
A cultural fact not to be underestimated
According to a Harris poll commissioned by Digital Currency Group:
77% of Americans prefer decentralized AI
56% would like AI development to be driven by distributed systems
A data point that strengthens the synergy between Web3 and artificial intelligence: users and investors demand transparency, ownership, and alternatives to tech monopolies.
NFT: +40% in Volume, but Is It a Sustainable Rebound?
The NFTs are growing again, with $280 million in volume (+40%) and 2.7 million transactions (+35%). But is it a real recovery or just a temporary spike?
Ethereum reconquers 53% of the NFT market (+30%)
Abstract records a +1200% for speculative activities and farming
Strong increase for art-based NFT and Telegram/Ton domains
Among the most significant events:
Apple removes the 30% tax on in-app NFTs
OpenSea launches OS 2.0, a multichain marketplace for NFTs, tokens, and memecoins
FIFA migrates its NFT platform to an EVM-compatible chain
Courtyard surpasses $55M in volume thanks to NFTs linked to physical assets
The sector remains partly tied to incentive mechanisms (airdrop and farming), but the signs of an evolution towards utility and mobile scalability are concrete.
Web3 Security: $275 Million Lost in Exploits in May
Despite fewer incidents compared to April, May saw $275 million lost in just 7 attacks, making it the 3rd worst month of the year.
The 3 main exploits:
Cetus Protocol (Sui): $260M stolen
Cork Protocol: $12M lost due to smart contract vulnerability
Mobius Token (BSC): $2.16M, potential rugpull
Security remains one of the main vulnerabilities of the sector. There is a need for more stringent audits, real-time monitoring tools, and greater technical education for developers and users.
Conclusions
The DappRadar report shows a more mature, balanced, and innovative Web3. After turbulent months, the fundamentals are returning to the forefront:
25M active wallets per day
TVL DeFi at $200 billion
NFT +40%
AI reaching the level of DeFi and Gaming for engagement
The sector is shifting from volatile experimentation to building robust infrastructure. The future of dapps will be determined by utility, interoperability, scalability, and security.
And as the report highlights: “It is no longer just a matter of hype, but of fundamentals”.
