ETH: Total Value Locked in DeFi (TVL)
Ethereum Total Value Locked in DeFi (Covered Protocols): daily data through 8 Nov 2026.
The value deposited each day in the main DeFi protocols on Ethereum that CryptoKeyhole reads on its own node: lending markets, Sky's vaults, liquid staking and native restaking.
Why use it. Total value locked is the usual measure of how much capital DeFi holds. It rises with deposits and with the prices of what is deposited, and falls when capital leaves or prices drop. How to read it. Read the counted-once line. The sum of the protocols counts twice the staked ether that is deposited again in a lending market as a liquid staking token (the third line). Compare with ETH's price to tell new deposits from price moves.
Calculation. Covered protocols, Ethereum mainnet only. Lending (Aave v2 and v3, Spark, Compound v3, Morpho Blue): what is supplied less what is borrowed, the deposits the protocol still holds, from the lending charts (Lending: Supplied by Protocol and Borrowed by Protocol). Sky's vaults: the collateral locked; their DAI and USDS debt is minted, not taken from depositors, so it is not subtracted. Liquid staking (Lido, Rocket Pool, StakeWise) and EigenLayer's native restaking (EigenPods): each one's estimated active stake, from the staking charts, valued at CryptoKeyhole's ETH/USD close of the day. Counted once: the liquid staking tokens deposited in those lending markets and vaults, less those borrowed, are taken out, because their ether is already counted in staking; that group includes tokens of issuers not covered here (such as Coinbase's cbETH), so the counted-once figure errs slightly low. Not counted yet: decentralised exchanges' pools, Curve, Pendle, yield vaults, bridges, tokens deposited in EigenLayer's strategies, and the older Aave v1 and Compound v2, so the total is lower than all of DeFi on Ethereum, by more in 2021 and 2022 when those were large. Daily from 1 December 2020, from CryptoKeyhole's own Ethereum node; the latest day is a partial until it closes.