Ethereum’s Total Value Locked (TVL) is a critical metric reflecting the adoption and growth of decentralized finance (DeFi) applications built on the Ethereum blockchain. TVL represents the total amount of digital assets—such as ETH, stablecoins, and various tokens—deposited into smart contracts for lending, trading, and yield-generating activities. Over the past few years, Ethereum has seen a surge in usage due to innovative protocols like decentralized exchanges (DEXs), lending platforms, and yield aggregators. Many investors and developers view high TVL as a sign of robust network utility and confidence in the underlying protocols.
Not included in TVL : Staking, Pool2, Gov Tokens, Borrows, Double Count, Liquid Staking and Vesting