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Glossary · Ethereum

Total value locked

Total Value Locked (TVL) is the aggregate value of all crypto assets deposited or staked in a decentralized finance (DeFi) protocol or blockchain.

Also: TVL

What it is

Total Value Locked, or TVL, represents the total sum of all digital assets currently held within a specific decentralized finance (DeFi) protocol, smart contract, or an entire blockchain ecosystem. It acts as a key metric for gauging the overall health, adoption, and liquidity of a DeFi platform. Users deposit their cryptocurrencies into these protocols for various purposes, such as lending, borrowing, yield farming, or providing liquidity to decentralized exchanges, thereby contributing to the protocol's TVL.

TVL is widely reported in crypto news and analysis as a primary indicator of a DeFi project's or a Layer-1 blockchain's success and user trust. A rising TVL often signals growing interest and capital inflow, potentially leading to increased token prices for associated projects. Conversely, a declining TVL can indicate waning confidence or capital flight, impacting market sentiment. Investors monitor TVL changes on platforms like DefiLlama to assess a protocol's robustness and compare its market position against competitors.

Why it matters

TVL is a crucial metric for evaluating the size and health of DeFi protocols and blockchains. It helps investors assess project adoption, liquidity, and potential growth.

Reviewed under editorial standardsUpdated September 26, 2026Not investment advice

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