DeFi TVL Hits $225B All-Time High But 10% Growth in Four Years Sparks Concerns

TLDR: DeFi TVL grew only 10% in four years from $204B in 2021 to $225B in October 2025, signaling saturation. Stablecoins USDT and USDC command $260B, exceeding DeFi TVL and proving sustained onchain demand exists. Yield-bearing stablecoins reached $20B...