Spark's decentralized finance (DeFi) protocol recorded a 15.3% weekly drop in total value locked (TVL), reaching a 30-day low, a reading that tracks valuation rather than deposits or withdrawals.
TVL expresses a protocol’s counted holdings as a point-in-time dollar valuation. Falling token prices can reduce Spark’s TVL even if the protocol holds the same quantities of tokens; the figure alone cannot quantify net user flows.
A single TVL figure also does not show how the mix of assets changed. EconoTimes has explained why DeFi TVL rankings can shift without net deposit changes.
