Decentralized Finance (DeFi) experienced a downturn after the LUNA collapse and FTX incident in 2022. However, market data from 2025 shows that DeFi is making a strong comeback — the Total Value Locked (TVL) has returned to a high of $156 billion, and Layer-1 public chain leaders are gearing up. With changes in the U.S. political landscape and a potential shift in the regulatory environment, the crypto market may usher in a new growth cycle. This article will focus on the latest developments and investment prospects of the three major public chains: Ethereum (ETH), Avalanche (AVAX), and Cardano (ADA). Ethereum (ETH): The Core of DeFi and the Stablecoin Dominator As the creator of DeFi and the second-largest crypto asset by market capitalization, Ethereum remains the top choice for capital and developers. Technical Advantages: The burn mechanism introduced by EIP-1559 has reduced the inflation rate of ETH to about 0.75%, compared to Bitcoin's Halving.

DEFI-1.29%
LUNA-1.51%
ETH-0.31%
AVAX0.16%
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