VeChain Sees Massive Q3 Expansion as DeFi TVL Climbs 815% and User Activity Accelerates

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• VeChain (VET) recorded $6.1 million in TVL in Q3 2025, with VeDelegate alone contributing $4.8 million.
• VET saw its market cap rise by 2.2% within the period to $1.9 billion, while VTHO had its market cap decline by 15.5%.

A recent Messari report has disclosed that VeChain (VET) recorded significant growth across its ecosystem’s sectors in the third quarter of 2025 (Q3 2025). In the report shared on X, the Decentralized Finance (DeFi) sector experienced a massive boom, with a 815.4% surge to $6.1 million in Total Value Locked (TVL) Quarter on Quarter (QoQ).

According to the data, VeDelegate contributed the lion’s share with $4.8 million in TVL. This accounted for 77% of the total. VeDelegate attained this feat, thanks to its fixed-term staking launch.

VeChain also saw its daily active addresses increasing to 62,800 QoQ, representing an 85.2% surge. Within the period, its transaction clauses saw a 32.3% increase in QoQ to 370,000. One interesting observation is that this record reversed the two-quarter decline in network activities. Average daily new addresses also saw a 54.4% increase to 40,900 in Q3 2025.

The Messari data also suggests that the average Decentralized Exchange (DEX) volume increased by 18.4% to $71,000 in the third quarter, up from $60,000. BetterSwap alone facilitated about $67,600 in daily volume. According to the report, this accounts for 95.3% of the total DEX activities.

Source: Messari

Market Caps of VeChain (VET) and VTHO

Further reviewing the report, we discovered that the market cap of VET had a 2.2% surge QoQ to $1.9 billion despite the broad market struggle. The price of VET also ended the quarter at $0.022 from $0.021 recorded in the previous quarter. In terms of market cap, it became the 57th largest crypto in the market. At the time of writing, VET was trading at $0.013, and was ranked the 60th largest crypto, losing three places.

Unlike VET, the gas token of VeChainThor, VTHO, finished the quarter with a market cap of $148.8 million, representing a 15.5% drop from the previous quarter. Its price also declined by 18.5% to $0.0016. According to Santiment, the discrepancy between the QoQ change in market cap and price of the asset stemmed from the 3.7% increase in total supply within the period.

Technical Upgrades and Partnerships

Apart from these on-chain growth, Q3 2025 also saw multiple upgrades and developments, including the advancement of the Renaissance upgrade. Within the period, there was a staking integration, mainnet-level EVM enhancement, and preparation towards a transition to next-generation consensus under Hayabusa. The quarter also witnessed the launch of the Galactica mainnet and the introduction of the Dynamic Fee Mechanism, the Shanghai EVM Upgrade, Typed transactions, and others.

As also indicated in our earlier discussion, VeChain launched the StarGate staking platform on July 1 as part of the Renaissance Roadmap.

Apart from these, VeChain also announced multiple high-profile partnerships, including the Revolut Learn & Earn Program, which was detailed in our earlier publication. It also partnered with BitGo to launch institutional-grade custody services for VET and VTHO, as noted in our earlier update.

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