Since the beginning of 2025, the digital asset market has achieved significant milestones, including in decentralized finance (DeFi). This article examines key achievements and trends in this field.
Overall Achievements in the Digital Asset Market
In early 2025, the digital asset market recorded several significant achievements in market capitalization, trading volume, and total value locked (TVL). In January, TVL reached nearly $120 billion, before dropping to between $85 and $90 billion during the bear cycle in March and April. A strong recovery in TVL was seen in May, with a peak reaching $168 billion in August.
Solana as the Leader in TVL Growth
The Solana blockchain demonstrated significant TVL growth in 2025, as well as since the end of 2023. According to data from DeFiLlama, Solana's TVL at the start of this year was $8.5 billion, reaching $12 billion in February. After a drop to $6.5 billion in April, thriving sentiments have driven the revival, and currently, it is again approaching $12 billion, sitting at $11.5 billion.
Hyperliquid L1: Outstanding Growth and Prospects
Among all chains, Hyperliquid L1 has gained significant attention for its revenue growth, usage, and TVL. Earlier in the year, TVL was between $300 million to $400 million, but by September 2025, it crossed $2 billion, reaching $2.6 billion. Market experts believe that Hyperliquid's TVL surge was driven by increased usage, alongside bitcoin reaching new highs. Recently, large investors selling and flipping bitcoin through Hyperliquid have also contributed to its long-term growth.
The year 2025 has been a landmark for the digital asset market marked by TVL growth and inspiring achievements from blockchains like Solana and Hyperliquid L1. Trends are expected to continue, opening new opportunities for both developers and investors.
