A general trend of rising TVL: How prices and TVL relate to each other?
Recently, Cryptonary has noticed a trend in rising Total Value Locked (TVL) for a number of decentralized projects. It is important to note that some of the major projects that have seen a huge surge in the above-said parameter include Waves (WAVES), Terra (LUNA), THORChain (RUNE), and Solidly (SOLID). In this article, we will try to outline fact if there's a general trend that is being followed.
What is TVL?
TVL is a term commonly associated with Decentralized Finance protocols that stands for the total amount of blockchain-based assets that are deposited in the protocol. It is important to note that this includes all the assets that have been staked, lent, or used to provide liquidity in pools. The yields that these assets provide are not counted in the locked value but only include the assets themselves.It is also important to note that the TVL of any protocol is constantly changing with the number of assets deposited or withdrawn along with the fluctuating dollar value of all those assets in the cryptocurrency market. Another fact is that as per data from DefiLlama, Ethereum holds the biggest TVL among all chains, nearly half of the entire DeFi volume.
Rising TVL
In 2021-2022 we saw a huge surge in the TVL of a number of projects. However, with the dawn of a new year, it seems that this year will be quite promising for DeFi as we can see a huge surge in TVL for a number of projects.Waves (WAVES)
Waves are "a community-based stack of decentralized open-source technologies to build scalable, user-friendly apps," as per the official website. The project is extremely fast and allows easy minting of NFTs and construction of DAOs. Moreover, the protocol is eco-friendly with a minimum carbon footprint.As per their official data, the value of the daily transaction crosses 44.5K and the total transactions completed is 254 million. 73.0% of the supply has been staked, while the average fee per transaction is 0.017 USD, which is quite cheap.
The DefiLlama data shows that the Waves protocol is the 11th biggest protocol by TVL, and the volume was $700 million on Feb 4 and rose to $1. 67 billion at the time of writing. The data from CoinMarketCap shows that the prices have surged 55% in the last seven days.
The major change in TVL can be attributed to the transition of the platform to Waves 2.0. This will introduce a new consensus with Ethereum Virtual Machine Support, cross-chain bridges, new governance models, a bridge between digital worlds, among other things. The biggest Dapp on the Waves chain is Neutrino (NSBT), whose TVL rose 90.45% in 1 one, rising 60% in the last seven days.
Terra (LUNA)
Terra is the biggest protocol by TVL after Ethereum, whose volume surged from $13.4 billion on Feb 1 to $22.8 billion at the time of writing. The top performer on the chain is Anchor protocol, whose volume surged 44.29%.Terra is a "public blockchain protocol deploying a suite of algorithmic decentralized stablecoins which underpin a thriving ecosystem that brings DeFi to the masses," as per the website.
The reason for LUNA's surge in TVL can be attributed to the fact that there has been a surge in the popularity of the network. Moreover, the developers have continued to burn the supply of the token. As per the data from Smart Stake, the network has burned more than 29 million tokens from the supply. This burning mechanism followed by increased demand for the UST token has caused the burning of the token and increased its prices. Furthermore, LUNA is the second biggest staked token, only surpassed by Solana.
THORChain (RUNE)
THORChain (RUNE) TVL surged from around $130 million by Jan-end to more than $180 million at the time of writing. On the other hand, the RUNE token surged more than 30% in the past seven days while the market remains bearish."THORChain aims to decentralize cryptocurrency liquidity via a network of public THORNodes and ecosystem products. Access to its native and cross-chain liquidity is open to any person, product or institution," as per the website.The reason for the rise in THORChain prices was the integration with Terra (LUNA) and the launch of the mainnet.
The integration of Terra will bring the UST and LUNA tokens to the RUNE ecosystem and was a major reason why the TVL of THORChain (RUNE) rose. The THORSwap now supports six wallet types for eight blockchains as a cross-chain DEX. Furthermore, the mainnet launch that was delayed might be nearing launch, which caused another hype among the market bulls.
Solidly (SOLID)
In a recent report from Cryptonary, we outlined the fact that the TVL of Solidly breached the $2 mark in just 24 hours. The data from DefiLlama confirms that after reaching the $2 billion mark, the TVL crashed, and at the time of writing, the volume stands at $1.25 billion.This huge crash has set the entire Twitter crypto ablaze as the SOLID token jumped from a low of 2.48 USD to a high of 15.60 USD in the last seven days, but at the time of writing, the price stands at $3.
The Solidly project saw a huge surge in TVL and adoption, and it seemed that there was no end to its popularity. However, this recent crash was attributed to a number of factors by a Twitter user. The main reason for this huge crash is token inflation, as per the user.
Conclusion
The surge in TVL of these decentralized protocols can be attributed to a number of factors. Each protocol has something that they are aiming to bring into the DeFi industry. However, it can be seen that the most attractive aspects include scalability, lower fees, and cross-chain experience. It is also to be noted that all of the above-mentioned projects have shown promising utility, and when it comes to the crypto market, nothing is for certain. However, it can be said that the time is coming for a further boom in the utility of more scalable, secure, and cheaper networks.
100% Success Money Back Guarantee
If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Take your next step towards crypto success
$799/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
What’s included in Pro:
Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked
24/7 access to experts with 50+ years’ experience
All of our top token picks for 2025
Our latest memecoins pick with 50X potential
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
How does the success guarantee work?
If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Recommended from Cryptonary
