Total Value Locked (TVL)
Wartosc aktywow w protokolach DeFi.
TVL measures the total dollar value of assets locked in smart contracts across DeFi protocols. It covers lending platforms, DEXs, yield optimisers, bridges, and more. TVL is the most common metric for gauging DeFi adoption and protocol health.
TVL can be measured per protocol, per blockchain, or across the entire DeFi ecosystem. Ethereum historically dominates total DeFi TVL, but chains like Solana, Arbitrum, and Base have captured increasing share as multi-chain DeFi has grown.
A rising TVL can indicate genuine growth and adoption, but it can also be inflated by token price appreciation or recursive deposits (e.g., depositing token A, borrowing token B, redepositing B). Normalising TVL against token prices gives a clearer picture.
TVL quantifies how much capital the market trusts in DeFi smart contracts, serving as the primary health metric for protocols and the broader DeFi sector.
Jak CryptoRadar24 to sledzi
CryptoRadar24 pulls TVL data from DefiLlama and on-chain sources for every supported asset, displaying protocol-level TVL breakdowns on coin pages.
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FAQ
How is TVL calculated?
It sums the USD value of all tokens deposited in a protocol's smart contracts. Some metrics count staked governance tokens; others exclude them.
Can TVL be misleading?
Yes. Double counting from recursive strategies, price appreciation inflating value, and tokens with low liquidity can all distort TVL figures.
What is the difference between TVL and market cap?
Market cap values all tokens. TVL only counts tokens actively deposited in DeFi contracts. A token can have high market cap but low TVL if most supply is held in wallets.
Why does TVL drop during bear markets?
Both declining token prices and capital withdrawal reduce TVL. Users remove funds due to lower yield incentives and increased risk aversion.