The Current Market Size of DeFi (2023) - DeFi's TVL (Total Value Locked)

As of 12/04/2023, the current TVL of the DeFi market is $69.910 billion USD [6].

TVL stands for Total Value Locked, which represents the total value of cryptocurrency that is locked or stored in a DeFi application or smart contract.

TVL is an important metric for assessing DeFi protocols, as it indicates the level of activity and liquidity in the protocol [25]. DefiLlama, a DeFi TVL aggregator, provides real-time data on TVL for different chains and protocols [1][3][11].

The TVL metric is calculated by multiplying the total number of tokens locked in a protocol by their current market price [25].

It is worth noting that TVL can fluctuate based on crypto token prices, and it is not a perfect measure of the health of a DeFi protocol [5][21].