Hedera Q1 Much to Be Expected Despite Strong Stablecoin Usage AllinCrypto May 16, 2025
Messari has reported on the state of Hedera Hashgraph in Q1 2025 after reporting on supportive growth back in Q4 2024.
New statistics suggest Hedera witnessed increased stablecoin usage, with the stablecoin market cap on HBAR surging 91.7% in Q1.
Meanwhile, active user accounts decreased by 33% QoQ TO 6,700 from 10,100 despite a 26% boost in daily transactions from 563,200 to 708,500, with transactions being more evenly distributed across the ecosystem.
Messari highlights HBAR Q1 stats, pointing out TVL and DeFi decreases
According to Messari’s recent stats report on the Hedera ecosystem, the network’s decentralized exchange volumes averaged 10.8M per day in Q1 2025, an increase of 0.5%.
Daily active transactions increased by 25.8% to 708,500, while the biggest increase seems to be Hedera’s stablecoin market capitalization.
USDC is natively deployed on Hedera, one of the only stablecoin tokens to be granted the ability. HBAR’s stablecoin market cap for USDC surged by 91.7% in Q1, closing the quarter at $72.6M.
Around 1.2 million USDC tokens, 278,800 USDT, and 65,100 DAI have been bridged to the Hedera network, which represents 2% of the total stablecoin market cap on the network.
According to the stats, 7.5% (5.5M) of natively issued USDC is supplied from Bonzo Finance, an open-source lending and borrowing protocol.
Despite USDC growth, decentralized finance on Hedera fell sharply in Q1 by 42% from $166.6 million to $97.1 million, with TVL (Total Value Locked) also decreasing by 4.1% from 620.6 million to 595.0 million.
Discrepancies between USD TVL and HBAR TVL suggest that the fall in HBAR’s price throughout Q1 was the reason for TVL depreciation and not capital leaving the ecosystem.
Looking closely at Hedera TVL, Bonzo Finance and SaucerSwap remain top capital holders with $64.6M being recorded at SaucerSwap compared to $22M at Bonzo Finance.
Hedera DeFi carried by SaucerSwap and Bonzo Finance
SaucerSwap is Hedera Hashgraph’s reading decentralized exchange that allows users to also stake tokens such as HBAR and SAUCE.
In 2025, the Hedera Foundation aims to push DeFi on HBAR to new heights by introducing new dApps and making development easier for individuals and businesses.
The Foundation’s big DeFi push aims to drive more active users to the Hedera ecosystem, which has been set up with established development tools such as the Hedera Playground and Smart Contract Builder.
The post Hedera Q1 Much to Be Expected Despite Strong Stablecoin Usage first appeared on AllinCrypto.
