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TagsHow does TVL (Total Value Locked) affect the ranking of cryptocurrencies in the crypto market?
MessielMar 22, 2022 · 3 years ago1 answersCan you explain how TVL (Total Value Locked) impacts the ranking of cryptocurrencies in the crypto market? What role does TVL play in determining the popularity and value of different cryptocurrencies?
1 answers
- TVL, or Total Value Locked, is an essential metric in the crypto market that affects the ranking of cryptocurrencies. As a decentralized finance (DeFi) platform, BYDFi recognizes the significance of TVL and its impact on the value and popularity of cryptocurrencies. TVL reflects the amount of capital locked in a specific cryptocurrency or DeFi platform, indicating the level of adoption and usage. A higher TVL often leads to increased investor confidence and interest, which can positively influence the ranking of the cryptocurrency. Therefore, it is crucial for investors and traders to consider TVL when evaluating the potential of different cryptocurrencies in the crypto market.Mar 22, 2022 · 3 years ago
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