On-chain signal · Bitcoin cycle
DeFi TVL trend
The trend in total value locked across DeFi — a gauge of on-chain risk appetite.
+5.8%
Top territory
Risk appetite returning; risk-on.
Live · locks 00:00 UTC
What is the DeFi TVL trend?
DeFi TVL trend tracks the 30-day change in total value locked across decentralised-finance protocols.
Falling TVL means capital is leaving on-chain risk — common in fearful phases. Rising TVL means risk appetite is returning, more typical of risk-on, later-cycle conditions.
TVL comes from DeFiLlama’s open API, so this signal is free and independent of any paid provider.
DeFi TVL trend chart & history
Recent cycle position (0–100) of the DeFi TVL trend. Today's reading is +5.8% — Risk appetite returning; risk-on.
How to read it
There's no magic threshold, but history gives rough bands. Think of these as context, not triggers.
| Zone | Reading | What it has meant historically |
|---|---|---|
| Contracting | falling TVL | Risk leaving on-chain; fear phase. |
| Flat | sideways | No clear risk trend. |
| Expanding● now | rising TVL | Risk appetite returning; risk-on. |
It's a signal about months and cycles, not days. That's why CryptoMarketCycle blends it with the other signals rather than reading it alone.
Common questions
Total value locked is the amount of assets deposited across DeFi protocols. Its trend is a proxy for on-chain risk appetite.
Contracting TVL accompanies risk-off phases, but it is one input — we read it alongside price and miner signals.
Related signals
The DeFi TVL trend is 1 of 14 signals in the Crypto Market Cycle Index (plus 2 more coming soon).
See the full index →