DefiLlama explained: how to read the DeFi data correctly

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.What DefiLlama measures and how to read TVL, fees, revenue, stablecoins and yields correctly: a guide with our own data analysis and six common reading mistakes.Add as a preferred source on GoogleFollow on Google NewsDefiLlama is the largest freely accessible data platform for decentralized finance (DeFi). It shows how much capital sits in crypto protocols such as Aave, Lido or Uniswap, how much these protocols earn in fees, which stablecoins are in circulation and what yields pools are currently paying. The data is free, available without registration, and the methodology is public. On November 3, 2026, according to DefiLlama, $81.8 billion was locked in DeFi, 53.9 percent below the record of November 9, 2021. How to read TVL, fees, revenue, stablecoins and yields correctly, and where even experienced investors take a wrong turn, we show here using our own analysis of DefiLlama data. DefiLlama at a glance: the key numbers On November 3, 2026, $81.8 billion sat in DeFi protocols...