One of the most used parameters to calculate the growth of decentralized finance is definitely the Total Value Locked, abbreviated as TVL. This is the total amount of money deposited in DeFi, calculated by adding up the total amount of tokenized bitcoin, ETH and stablecoins deposited in the various DeFi protocols. To find out the TVL in DeFi there are several services, some of which we will cover in this article, although we must add that the numbers indicated are never 100% accurate considering that new DeFi projects are included usually after days/weeks or even months. Example: on one service the TVL could be $18B, on another $20B, on yet another $22B. This is because all websites for DeFi stats either use different algorithms or have different listing times. Let’s get started!
DeFiPulse: The absolute leader in the DeFi industry. It is the most authoritative website in this field, but also the slowest in adding new DeFi protocols. For this reason, the TVL shown is often lower than the other services. But DeFiPulse is still the most used web service so the numbers shown on their HomePage are usually also the numbers used by the various media. Recently DeFiPulse has excluded tokenized bitcoin from their ranking, moving them to a separate ranking. Currently the TVL on DeFiPulse is $20B + $4.7B of tokenized bitcoin.
DeBank: DeBank offers both a DeFi wallet, a DeFi Dashboard and one of the most comprehensive DeFi directories in the world. This is why the TVL shown on their website is higher than the one shown by DeFiPulse, coming in at almost $30 billion (at the time of writing). This is because DeBank is much faster with new project listings and currently has as many as 185 projects on their DeFi list. The design is also superior to that of DeFiPulse, thanks to ultra-modern and user-friendly colours and settings. It’s my favourite service and I hope you guys will like it too!
DeFiLama: If you love Uniswap, DeFiLama is definitely the product for you. Why? For the simple reason that the design of DeFiLama is inspired by Uniswap (it’s identical). At the moment the TVL shown by DeFiLama is $26.76 billion, with MakerDAO dominance above 15%. This service currently lists as many as 70 DeFi projects and can be used as an alternative to the famous DeFiPulse to keep track of the TVL of projects not present on other similar services.
CoinGecko: Even CoinGecko and CoinMarketCap have understood the power of DeFi and a few months ago they introduced two particular lists where it is possible to keep track of all DeFi projects divided by MarketCap. On CoinGecko, on this particular page, it is possible to check the total value locked in DeFi, at the moment showing about 24 billion dollars. To check the TVL of each project simply open the internal page of the project in question on CoinGecko and you will find this number with other useful data such as the market cap / TVL ratio. This is very useful to find DeFi projects that are still undervalued and that could potentially lead to earning a significant profit.
EtherScan: Although EtherScan represents the best tracker for Ethereum and ERC20 tokens, its DeFi page is in need of several improvements. It currently shows a TVL of only $15 billion as the list of DeFi projects is relatively short. Use it in case the above 4 services all have problems at the same time (which is quite impossible). We are quite sure that EtherScan will devote some more effort to its DeFi DashBoard.