TVL is the most overrated metric in crypto, most of it is the same money looping around.
17 Sep 2025 1 minute read 1 comment PsalmistAllegro
I’ve never been a big fan of TVL as the go-to metric for measuring the health of a crypto project. It looks neat on dashboards, but the truth is most of that value isn’t “new money” flowing in. A huge chunk of it is just the same capital looping arou...