Original Title: State of the Dapp Industry Q2 2025
Original Author: Sara Gherghelas, DappRadar
Original Compilation: Tim, PANews
AI agents top the market, RWA redefines NFT value, DeFi attracts capital but loses momentum, and the $6.3 billion in hacker attacks in the second quarter exposes the industry’s vulnerabilities.
Despite a rebound in cryptocurrency market prices and improved sentiment, the DApp ecosystem presents a different picture: AI agents have seen explosive growth, NFT value has shifted from ostentatious to functional, while DeFi navigates the gap between rising TVL and shrinking financing. These data not only showcase market activity but also reveal the true direction of users, lagging sectors, and key trends reshaping the future of DApps.
The era we are in no longer allows market trends to be driven solely by hype. Users are beginning to pursue real value: whether it’s AI agents that can accomplish tasks, NFTs…
