NFTs Beat DeFi in Activity as Both Sectors Explode in July

Key Points

1. DeFi's total value locked (TVL) surged over 30% to $259 billion, briefly hitting an all-time high of $270 billion, with Ethereum leading at $166 billion TVL compared to Solana's $23 billion.

2. Ether's price rose nearly 60% in July due to favorable regulatory sentiment, and staking rewards reached 29.4% APY.

3. Solana's Hyperliquid dominated derivatives, accounting for 35% of blockchain revenue, 60% of daily perpetual futures volume, and $15.3 billion in open interest.

4. NFT trading volume surged 96% to $530 million, with average prices doubling to $105, driven by blue-chip collections and utility-focused projects like Blur and ZORA.

5. Major brands like Starbucks, Nike, Louis Vuitton, and Coca-Cola expanded NFT initiatives, signaling a shift from hype to utility in areas like gaming, identity, and ticketing.