# DeFi Dominates the DApp Industry in 2024, Reports DappRadar
DappRadar has identified decentralized finance (DeFi) as the standout segment in the decentralized application (DApp) industry this year. According to a report by DappRadar, cited by The Defiant on the 15th, DeFi witnessed a staggering 532% growth, reaching seven million unique active wallets (UAWs) and capturing a 32% market share to become the most dominant category. The total value locked (TVL) in DeFi increased by 211%, amounting to $214 billion.
Several factors contributed to DeFi’s expansion, including the rise of meme coins, the introduction of AI agents, and the U.S. Federal Reserve’s interest rate cuts. The report stated, “These factors reignited interest in DeFi lending protocols, driving investors to platforms such as Aave and Compound in search of better yields.”
# Meme Coin Boom
Meme coins were a major highlight. Tokens like GOAT and PEPE reignited retail interest, fostering liquidity and activity across DeFi platforms. The report noted, “These highly speculative tokens often served as gateways for users exploring DeFi for the first time.”
In the latter half of the year, AI agents introduced transformative elements into the ecosystem, streamlining operations such as transactions and governance, and boosting user engagement. The report anticipated that “these innovations are likely to be further explored in 2025, becoming key components in the evolution of DeFi.”
Among Layer 1 chains, Solana stood out with a 2000% increase in TVL, followed by significant growth in Sui (1288%), Aptos (1178%), and Base (1152%).
# NFT News
Non-fungible tokens (NFTs) started the year with solid performance but ended with the worst annual results since 2020. Transaction volume reached 49.8 million, while sales hit $13.7 billion. Compared to the previous year, transaction volume and sales declined by 19% and 18%, respectively.
However, the fourth quarter showed signs of recovery, and overall, the average sale price in 2024 was higher than in 2023.
