The State of DeFi in 2025 > In 2025, DeFi moved further away from a cycle-defined speculative arena and closer to a durable financial system with recognisable primitives, maturing market structure, and increasingly institutional-grade infrastructure. > Stablecoins became core financial infrastructure and value capture expanded, but concentration stayed structurally high. > This report provides a comprehensive, data-led read on DeFi in 2025 and the forces shaping its next chapter.
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Every task completed is a step closer to your goal. Keep going!
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A wallet is currently closing 6M ENA ($4M) of its 51M ENA ($34M) long position and shorting ETH using sell TWAPs. https://hypurrscan.io/address/0x6b78be2ba4d55d5ee434c7d47fb3bbaffafc5e9c
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