TVL Indicator "Malfunctioning": Multi-Dimensional Assessment Urgently Needed for DeFi Investment

During the DeFi market boom, people often viewed the project's Total Value Locked (TVL) as an important indicator to measure project and token asset value. However, as this market cools down, the TVL indicator seems to have "malfunctioned". According to OKLink data, in the past month and a half, DeFi's total asset market value has decreased from $17.74 billion to $10.12 billion, a decline of 42.95%; however, during this period, DeFi projects' total locked value has instead shown an upward trend, increasing from $11.1 billion to $13.54 billion, a rise of 21.98%.