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What exactly is the TVL of DeFi? An article to understand it.
TVL (Total Value Locked) simply means: all the money that users have deposited in the Decentralized Finance protocol.
The current Total Value Locked in global Decentralized Finance has surged to $169 billion, with the Ethereum ecosystem accounting for a large portion. In comparison, it was only $400 million two years ago, an increase of 422 times.
How is it calculated?
Assume you are operating on a certain DeFi platform:
The TVL of this platform is 3000 USD. It's that simple.
What is the use of TVL?
The most important thing is: used to determine whether a DeFi token is overvalued.
Market Cap ÷ TVL, the lower this ratio, the cheaper it is (similar to the P/B ratio of stocks):
When the market capitalization/TVL of the entire DeFi market exceeds 3-4, it indicates that the market is overly optimistic, and caution is advised.
Another use: Assessing platform security. Only platforms with TVL > 1 billion USD and audited by institutions like CertiK are considered; small platforms with high yields are likely scams.
Summary: Want to play in Decentralized Finance or buy related tokens? Total Value Locked is a key metric to watch.