Ethereum closes 2025 having firmly established itself as the secure foundation for an expanding digital economy. The network’s annual ecosystem review shows sustained growth across finance, infrastructure, institutions, developers, and real-world adoption. From record DeFi liquidity to trillion-dollar settlement volumes, Ethereum increasingly operates less like experimental technology and more like global infrastructure. On-chain data tells the story clearly. Ethereum’s DeFi total value locked surpassed $99 billion, stablecoin settlement volume reached $18.8 trillion, and rollups processed transactions at an average of 5,600 TPS for the first time. Layer 2 fees dropped below $0.01, while institutions, governments, developers, and consumer apps continued
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