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DeFi protocols post $16 billion revenue as stablecoins dominate activity
DeFi revenue reached $16 billion in 2025, led by stablecoins and rising value distribution to holders despite regulatory uncertainty.
Crypto protocols generated $16 billion in revenue in 2025, with stablecoins accounting for over 60% of activity, a DeFi industry report said. Perpetual exchanges contributed 7–8% of revenues, while value transferred to token holders peaked at 18%. improved capital efficiency, stronger governance, and rising institutional participation despite continued regulatory uncertainty across major global crypto markets during the year amid volatile market conditions worldwide.