VeChain’s native tokens, VET and VTHO, saw their market values drop by over 50% in the fourth quarter of 2025. On-chain data showed a sharp contraction in daily active addresses and transaction fees on the VeChainThor blockchain. While the platform’s DeFi total value locked plunged 66% quarter-over-quarter, it maintained positive year-over-year growth.
The market capitalization of VeChain‘s VET token fell 52.1% quarter-over-quarter to $894.7 million. Its price mirrored this decline, closing the quarter at $0.010 from $0.022 in the previous three months.
The blockchain’s gas token, VTHO, saw its market value decline by 51.0% to $73 million. Its price fell 52.4% to $0.00075 as overall market activity slowed.
On-chain activity contracted significantly, with average daily active addresses decreasing by 56.8% to 27,100. Daily transaction fees decreased by 65.9% in U.S. dollar value to $473.
The network’s total value locked in decentralized finance (DeFi) decreased by 66% quarter-over-quarter to $2.1 million. VeDelegate remained the leading protocol with a 73.2% market share, though its TVL decreased by 68%.
Despite the quarterly pullback, VeChain’s DeFi industry showed year-over-year resilience. Total TVL was up 124.9% from the fourth quarter of 2024.
