April 5, 2025
Nearly 40% Drops
The AI industry’s TVL dropped 27% from the previous quarter, mainly due to the Bybit exploit and broader economic issues.
Source: DappRadar
Ethereum’s TVL also fell 37% to $96 billion, while Sui dropped 44% to $2 billion. Solana, Tron, and Arbitrum saw similar reductions of over 30%, but Berachain gained $5.17 billion in TVL in just two months.
NFT Market Declines
Despite these struggles, various AI and social blockchain applications saw significant growth. Daily active wallets using AI protocols rose 29%, and social apps saw a 10% increase.
Meanwhile, the NFT market saw a 25% drop in trading volume to $1.5 billion, with OKX leading sales. Pudgy Penguins was the top collection, while CryptoPunks generated over $63 million from fewer than 500 transactions.
