The growth of DeFi Total Value Locked (TVL) often signals increased adoption and liquidity, potentially driving prices of DeFi tokens like UNI, AAVE, and MKR upward. Historically, rising TVL reflects user confidence and capital inflow, boosting demand for these governance tokens. For instance, UNI benefits from Uniswap’s dominance in DEX trading, while AAVE gains from lending protocol usage, and MKR from MakerDAO’s stablecoin stability. However, TVL growth doesn’t guarantee price surges—market sentiment, broader crypto trends, and token supply dynamics also play key roles. In 2021, TVL soared to $82 billion, correlating with UNI, AAVE, and MKR price peaks, yet 2022’s TVL drop showed resilience in token prices during bullish phases. Thus, while TVL growth can fuel price increases, it’s not a sole determinant; external factors remain critical.