The decentralized applications (dApps) sector witnessed a significant improvement in May 2025, supported by positive momentum in the broader market and the rise of Bitcoin to record levels.
According to the “DappRadar” report, this month may mark a turning point in the path of decentralized finance and non-fungible tokens (NFTs).
The number of unique active wallets daily increased by 8% to reach 25 million, driven by growth in three key sectors:
Decentralized artificial intelligence applications (+23%).
Decentralized social media applications (+21%).
Non-fungible token applications (+9%).
This expansion shows increasing user interaction and maturity in the market structure, as the gaming, decentralized finance, and artificial intelligence sectors form close shares of overall activity.
On the other hand, the Total Value Locked (TVL) in the decentralized finance sector rose by 25% to exceed $200 billion, driven by the rise in prices of key assets like Bitcoin and Ethereum.
The “Hyperliquid” platform emerged prominently, recording a monthly trading volume of $244 billion, equivalent to about 10% of Binance's share, despite the controversy surrounding its handling of a manipulation incident.
The report classified “Hyperliquid” among the top five in terms of trading volume, and the top ten in terms of Total Value Locked (TVL) across various networks.
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