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What Is TVL in DeFi? How Total Value Locked Works — and the Three Ways It Misleads Beginners
The number every DeFi headline quotes Open any DeFi dashboard and one number greets you first: TVL, or total value locked. As of November 2, 2026, DefiLlama put total DeFi TVL at $82.437 billion, with $295.485 billion in stablecoins across the ecosystem and $5.381 billion in 24-hour decentralised-exchange volume. The definition is simple: TVL is the dollar value of crypto assets users have...
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