Overview

• DeFi total value locked stands near $11.7 billion, with stablecoin supply around $12 billion, according to DeFiLlama.
• Daily on-chain fees are roughly $1.6–$1.68 million, and Messari reports Q2 application revenue fell 44.2% to $576.4 million from $1 billion.
• SOL trades around $198–$200, well below January’s $294.33 all-time high despite the liquidity recovery.
• Twenty-four hour activity remains heavy, with about $4.6 billion in spot DEX volume and roughly $2.1 billion in perpetuals.
• Bridged-liquidity tallies differ by source, with recent reports citing roughly $57 billion versus $42 billion.