Tezos ecosystem Q4 2025 sees a 50% increase in transaction volume to 18.6 million transactions

Tezos Ecological Q4 2025 data shows that Etherlink is driving activity towards L2, with a 50% month on month increase in transaction volume to 18.6 million and a 96.6% increase in daily active addresses to 9900. The month on month indicators include: XTZ price down 26.1% to $0.49, L1 DeFi TVL down 19.7% to $36.2 million, Etherlink DeFi TVL down 30.3% to $68.3 million, stablecoin supply down 0.1% to $54.2 million, L1 daily active addresses down 28.1% to 1700, and L1 contract deployment down 24.8% to 2780. （Messari）