Web3 activity remained stable at 24 million daily interactions in Q2 2025, but shifts in sector dominance are evident. DeFi leads with 240 million transactions weekly, while Ethereum gas usage shows that sectors like real-world asset (RWA) tokenization, decentralized physical infrastructure (DePIN), and AI are increasingly significant. Crypto gaming remains the largest category, although it has decreased to over 20% market share. DeFi's total value locked (TVL) has surged to $137 billion, reflecting rising capital concentration amid regulatory uncertainties. Ethereum gas consumption illustrates this shift, with DeFi dropping to just 11% of usage. Meanwhile, RWA is emerging as a promising sector, growing in value from $15.8 billion to $25.4 billion. Price performance indicates strong gains primarily in smart contract platform coins and DeFi tokens, while AI, DePIN, and social sectors lag behind in terms of tangible growth. This highlights a trend where investor confidence is focused on more mature, utility-driven projects rather than speculative narratives.

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