Taking the sounding

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Live validated snapshot

Chain liquidity sounding

Ink

Ink nominal depth is holding steady across the latest 7.2 observed days. Token-price effects remain in the TVL reading.

Reported nominal TVL$117.54M+0.3% across 7.2 observed days

Depth rank: #21
Protocols mapped: 20
Stablecoin layer: 134.8%

Source: DeFiLlama open chain roster
Captured: 2026-08-11T04:58:59.474Z
Unit: Nominal USD TVL
Does not prove: Deposits, exits, or unique users

What this page answers

Ink reports $117.54M in nominal DeFi TVL. The roster maps 20 protocols to this chain. It ranks #21 by Bathymark depth. Its weekly nominal TVL change is +0.3% across 7.2 observed days, and its 30-day change is -7.5% across 30.2 observed days. Token-price effects are not removed.

Chain TVL change context What TVL means Data source and limits

depth over timepeak $572.84M

Depth rank: #21
Protocols read: 20
Stablecoin USD market value: $158.39M

State: Reported depth is holding
Confidence: moderateThe chain level is source-backed. Confidence is capped because token-price effects are not removed from TVL.
Snapshot captured: 2026-08-11 04:58 UTC

Three strongest drivers

Reported nominal TVL$117.54MCurrent chain level from the validated DeFiLlama chain roster.
Seven-day nominal change+0.3%$117.22M to $117.54M across 7 observed days.
Stablecoin cash layer$158.39MOpen-data stablecoin circulating USD market value reported on this chain, shown separately from TVL and token units.

Open the 30-second readChange, history, comparison, and implication

What changed

Reported nominal USD TVL changed by $314.4K over seven days.

$117.22M to $117.54M across 7 observed days. The reconciled 30-day change is -7.5%.

Is it unusual

Current nominal TVL sits at the 52th percentile of the stored chain history.

Daily nominal-TVL change volatility is 31.35%. Price effects remain inside that history.

How it compares

Ink ranks #21 of 461 validated chains by nominal USD TVL.

The validated chain median is $338.1K. This is a level comparison, not a quality verdict.

Why it matters

Reported depth is broadly unchanged, so the level matters more than a weak directional signal.

This is market-structure context, not a forecast or a trade recommendation.

Open the evidence trailCounterevidence, invalidation, sources, and method

What argues against this reading

Token-price repricing can explain some or all of the nominal USD TVL change.

Bathymark does not label this series fresh capital, deposits, or withdrawals.

Stablecoin circulating USD market value is $158.39M, a separate stock that can confirm or contradict the TVL level.

Tether Gold leads the visible protocol roster, but the slim endpoint does not expose its exact Ink allocation.

What would change the call

The holding call changes if the reconciled seven-day nominal USD TVL change moves outside the -0.5% to +0.5% band.

Measured byFirst and last validated DeFiLlama chain TVL values across a seven-day window under the same method version.

Next review

Next daily chain-depth review

Exact sources

DeFiLlama Historical Chain TVL APIhttps://api.llama.fi/v2/historicalChainTvl/InkSource observation: 2026-08-11 00:00 UTCSupports: Nominal USD chain TVL history and reconciled period changes.Limit: The chain TVL history passed schema, completeness, and freshness checks.
DeFiLlama Chains APIhttps://api.llama.fi/v2/chainsSupports: Current nominal chain TVL and peer ranking.Limit: The chain roster passed schema, completeness, and freshness checks.
DeFiLlama Protocols APIhttps://api.llama.fi/protocolsSupports: Protocol presence, category, and total global TVL for the chain roster.Limit: Protocol TVL is a source-reported nominal USD value, not executable token liquidity or proof of custody, solvency, safety, or redeemability.
DeFiLlama Stablecoin Chains APIhttps://stablecoins.llama.fi/stablecoinchainsSupports: Open-data circulating USD market value across all reported stablecoin peg buckets on each chain.Limit: The per-chain stablecoin roster passed schema, completeness, and freshness checks.

Formula

7d nominal TVL change = (last nominal USD TVL - first nominal USD TVL) / first nominal USD TVL * 100

The displayed period change is accepted only when it reconciles with the first and last source values. Price effects are not removed.

Open formula note

Snapshot receipt

Snapshot captured: 2026-08-11 04:58 UTC
Ingested: 2026-08-11 04:59 UTC
Method version: chain-depth-2026-07-11.1Current level, historical context, peer rank, and corroborating evidence remain separate fields.

Missing inputs

Price-adjusted deposits and withdrawals

Chain activity

growthepie covers Ethereum and many L2s with daily transactions, active addresses, user-paid fees, and app fees. Latest activity date: 2026-08-09.

Transactions

269.2K

+1.4% versus prior 7d average

Active addresses

19.9K

-28.6% versus prior 7d average

User fees

$412.95

+21.4% versus prior 7d average

App fees

$117.1K

Application fees from growthepie fundamentals where covered.

Activity data comes from the public growthepie fundamentals export. It is shown only for chains with a clean key match; other chains stay on DeFiLlama depth, stablecoin, and protocol roster reads.

Protocol roster map

Categories among protocols that list Ink. This uses each protocol's total global TVL as roster weight because the slim open list does not expose per-chain protocol allocation. CEX reserve rows are omitted from this chain roster.

RWA2 rows

Risk Curators1 row

Onchain Capital Allocator1 row

Cross Chain Bridge1 row

Dexs9 rows

Yield Aggregator2 rows

Lending3 rows

Liquidity Manager1 row

Stablecoin USD market value is 134.8% of chain TVL. The largest listed protocol's global TVL is 2664.5% of this chain's TVL, so treat the roster as context, not allocation.

This chain, measured

The Almanac's instruments, read for Ink alone. Open any one for the full method, history, and what it can and cannot mean.

Share of all DeFi

0.16%rank #21 of 461

Ink holds 0.16% of all on-chain liquidity, the #21 deepest chain. Dominance is how much of the ocean sits here.

Stablecoins here

$158.39Msource-reported stablecoin value on chain

$158.39M in source-reported stablecoin circulating USD market value is attributed to Ink. It is not a reserve balance, token-unit count, or measure of immediately spendable dollars.

30-day tide

Range: Ink TVLJun 13, 2026 to Aug 11, 2026
Observations: 60
First: $125,751,105
Latest: $117,835,274

-7.1%draining

Ink's reported USD TVL moved -7.1% over the last month. Token-price effects are not removed, so this is not labelled deposit flow.

Stablecoin value vs nominal TVL

1.3×two source-reported value measures

Ink's source-reported stablecoin circulating USD market value is 1.3× its nominal DeFi TVL. This ratio does not make either measure token-unit supply, deposits, reserves, or executable liquidity.

Roster concentration

44%Tether Gold leads roster

Tether Gold is 44% of the listed non-CEX roster by global protocol TVL. This is context, not a per-chain allocation.

Largest protocols by reported TVL on Ink

Protocols that list Ink, ranked by each protocol's total reported total TVL. The open list does not expose chain-specific allocation for every protocol, so this is a non-CEX roster read, not a per-chain TVL split.

Protocol	Category	TVL	7d
Tether Gold	RWA	$3.13B	+8.5%
Sentora	Risk Curators	$2.22B	+3.2%
Veda	Onchain Capital Allocator	$1.36B	+6.7%
Apollo Diversified Credit Securitize Fund	RWA	$115.36M	+0.2%
Hyperlane	Cross Chain Bridge	$92.33M	+3.3%
Tydro	Lending	$56.42M	+5.3%
Nado Spot	Dexs	$47.83M	-3.7%
Fusion by IPOR	Yield Aggregator	$44.72M	+2.9%
vfat.io	Yield Aggregator	$25.35M	+0.6%
Velodrome V3	Dexs	$18.66M	-2.8%
Velodrome V2	Dexs	$14.09M	-0.8%
TheDeep	Liquidity Manager	$4.6M	+4.0%
DyorSwap AMM	Dexs	$2.07M	+10.4%
SakuraSwap AMM	Dexs	$2.03M	-3.9%
SakuraSwap CLMM	Dexs	$1.74M	+1.2%

Bathymark reads this chain from DeFiLlama's open chain and protocol datasets. TVL can rise or fall because asset prices moved, so the branded tide is a nominal USD depth-proxy reading, not measured flow or a forecast.

How to read Ink liquidity

7-day and 30-day nominal TVL tide

The short tide is +0.3% across 7.2 observed days. The 30-day tide is -7.5% across 30.2 observed days. Read those as nominal USD movement in the depth proxy. Token-price effects are not removed.

Protocol concentration

Bathymark reads 15 large protocols and 8 categories on Ink. Concentration matters because one venue can make a chain look deeper than it is, even when the venue also operates elsewhere.

Stablecoin cash layer

$158.39M of stablecoin circulating USD market value is visible on Ink in the current open-data read. This is not token count or reserve value.

What it cannot mean

Rising TVL cannot prove new users arrived. Falling TVL cannot prove abandonment. The number describes depth, then the cause has to be checked.

Questions this page answers

What is Ink TVL in this snapshot?

Ink reports $117.54M in nominal DeFi TVL on Bathymark's current open-data reading. That is a USD-valued depth proxy, not measured exit liquidity.

Is Ink nominal TVL rising or falling?

Ink is holding steady in the weekly window, with a nominal TVL tide of +0.3% across 7.2 observed days and a 30-day nominal tide of -7.5% across 30.2 observed days. Token-price effects are not removed.

Which protocols hold the most liquidity on Ink?

Tether Gold, Sentora, Veda are among the deepest protocols Bathymark reads on Ink.

What does liquidity depth mean for Ink?

Bathymark uses reported USD TVL as an open depth proxy for the ecosystem. It is not an order-book or exit-liquidity measure, and it can move because deposits, withdrawals, token prices, incentives, or source mapping changed.

Measurement receipt

What this number is, and is not

Bathymark reads source-reported USD TVL as a chain-depth proxy. The value can move because assets repriced, deposits changed, withdrawals changed, incentives moved, or the source mapping changed.

Source: DeFiLlama chain, protocol, and stablecoin datasets
Snapshot: 2026-08-11T04:58:59.474Z
Freshness: Live validated snapshot
History: Current validated history captured 2026-08-11T04:59:14.872Z
Caveat: Nominal USD change, price effects are not removed

Read the method Inspect source policy

Connected to Ink

Every surface that reads this chain from another angle, so a question that starts here never dead-ends.

Taking the sounding

Live validated snapshot

Chain liquidity sounding

Ink

Ink nominal depth is holding steady across the latest 7.2 observed days. Token-price effects remain in the TVL reading.

Reported nominal TVL$117.54M+0.3% across 7.2 observed days

Depth rank: #21
Protocols mapped: 20
Stablecoin layer: 134.8%

Source: DeFiLlama open chain roster
Captured: 2026-08-11T04:58:59.474Z
Unit: Nominal USD TVL
Does not prove: Deposits, exits, or unique users

What this page answers

Chain TVL change context What TVL means Data source and limits

depth over timepeak $572.84M

Depth rank: #21
Protocols read: 20
Stablecoin USD market value: $158.39M

State: Reported depth is holding
Confidence: moderateThe chain level is source-backed. Confidence is capped because token-price effects are not removed from TVL.
Snapshot captured: 2026-08-11 04:58 UTC

Three strongest drivers

Reported nominal TVL$117.54MCurrent chain level from the validated DeFiLlama chain roster.
Seven-day nominal change+0.3%$117.22M to $117.54M across 7 observed days.
Stablecoin cash layer$158.39MOpen-data stablecoin circulating USD market value reported on this chain, shown separately from TVL and token units.

Open the 30-second readChange, history, comparison, and implication

What changed

Reported nominal USD TVL changed by $314.4K over seven days.

$117.22M to $117.54M across 7 observed days. The reconciled 30-day change is -7.5%.

Is it unusual

Current nominal TVL sits at the 52th percentile of the stored chain history.

Daily nominal-TVL change volatility is 31.35%. Price effects remain inside that history.

How it compares

Ink ranks #21 of 461 validated chains by nominal USD TVL.

The validated chain median is $338.1K. This is a level comparison, not a quality verdict.

Why it matters

Reported depth is broadly unchanged, so the level matters more than a weak directional signal.

This is market-structure context, not a forecast or a trade recommendation.

Open the evidence trailCounterevidence, invalidation, sources, and method

What argues against this reading

Token-price repricing can explain some or all of the nominal USD TVL change.

Bathymark does not label this series fresh capital, deposits, or withdrawals.

Stablecoin circulating USD market value is $158.39M, a separate stock that can confirm or contradict the TVL level.

Tether Gold leads the visible protocol roster, but the slim endpoint does not expose its exact Ink allocation.

What would change the call

The holding call changes if the reconciled seven-day nominal USD TVL change moves outside the -0.5% to +0.5% band.

Measured byFirst and last validated DeFiLlama chain TVL values across a seven-day window under the same method version.

Next review

Next daily chain-depth review

Exact sources

DeFiLlama Historical Chain TVL APIhttps://api.llama.fi/v2/historicalChainTvl/InkSource observation: 2026-08-11 00:00 UTCSupports: Nominal USD chain TVL history and reconciled period changes.Limit: The chain TVL history passed schema, completeness, and freshness checks.
DeFiLlama Chains APIhttps://api.llama.fi/v2/chainsSupports: Current nominal chain TVL and peer ranking.Limit: The chain roster passed schema, completeness, and freshness checks.
DeFiLlama Protocols APIhttps://api.llama.fi/protocolsSupports: Protocol presence, category, and total global TVL for the chain roster.Limit: Protocol TVL is a source-reported nominal USD value, not executable token liquidity or proof of custody, solvency, safety, or redeemability.
DeFiLlama Stablecoin Chains APIhttps://stablecoins.llama.fi/stablecoinchainsSupports: Open-data circulating USD market value across all reported stablecoin peg buckets on each chain.Limit: The per-chain stablecoin roster passed schema, completeness, and freshness checks.

Formula

7d nominal TVL change = (last nominal USD TVL - first nominal USD TVL) / first nominal USD TVL * 100

The displayed period change is accepted only when it reconciles with the first and last source values. Price effects are not removed.

Open formula note

Snapshot receipt

Snapshot captured: 2026-08-11 04:58 UTC
Ingested: 2026-08-11 04:59 UTC
Method version: chain-depth-2026-07-11.1Current level, historical context, peer rank, and corroborating evidence remain separate fields.

Missing inputs

Price-adjusted deposits and withdrawals

Chain activity

growthepie covers Ethereum and many L2s with daily transactions, active addresses, user-paid fees, and app fees. Latest activity date: 2026-08-09.

Transactions

269.2K

+1.4% versus prior 7d average

Active addresses

19.9K

-28.6% versus prior 7d average

User fees

$412.95

+21.4% versus prior 7d average

App fees

$117.1K

Application fees from growthepie fundamentals where covered.

Activity data comes from the public growthepie fundamentals export. It is shown only for chains with a clean key match; other chains stay on DeFiLlama depth, stablecoin, and protocol roster reads.

Protocol roster map

RWA2 rows

Risk Curators1 row

Onchain Capital Allocator1 row

Cross Chain Bridge1 row

Dexs9 rows

Yield Aggregator2 rows

Lending3 rows

Liquidity Manager1 row

Stablecoin USD market value is 134.8% of chain TVL. The largest listed protocol's global TVL is 2664.5% of this chain's TVL, so treat the roster as context, not allocation.

This chain, measured

The Almanac's instruments, read for Ink alone. Open any one for the full method, history, and what it can and cannot mean.

Share of all DeFi

0.16%rank #21 of 461

Ink holds 0.16% of all on-chain liquidity, the #21 deepest chain. Dominance is how much of the ocean sits here.

Stablecoins here

$158.39Msource-reported stablecoin value on chain

$158.39M in source-reported stablecoin circulating USD market value is attributed to Ink. It is not a reserve balance, token-unit count, or measure of immediately spendable dollars.

30-day tide

Range: Ink TVLJun 13, 2026 to Aug 11, 2026
Observations: 60
First: $125,751,105
Latest: $117,835,274

-7.1%draining

Ink's reported USD TVL moved -7.1% over the last month. Token-price effects are not removed, so this is not labelled deposit flow.

Stablecoin value vs nominal TVL

1.3×two source-reported value measures

Ink's source-reported stablecoin circulating USD market value is 1.3× its nominal DeFi TVL. This ratio does not make either measure token-unit supply, deposits, reserves, or executable liquidity.

Roster concentration

44%Tether Gold leads roster

Tether Gold is 44% of the listed non-CEX roster by global protocol TVL. This is context, not a per-chain allocation.

Largest protocols by reported TVL on Ink

Protocol	Category	TVL	7d
Tether Gold	RWA	$3.13B	+8.5%
Sentora	Risk Curators	$2.22B	+3.2%
Veda	Onchain Capital Allocator	$1.36B	+6.7%
Apollo Diversified Credit Securitize Fund	RWA	$115.36M	+0.2%
Hyperlane	Cross Chain Bridge	$92.33M	+3.3%
Tydro	Lending	$56.42M	+5.3%
Nado Spot	Dexs	$47.83M	-3.7%
Fusion by IPOR	Yield Aggregator	$44.72M	+2.9%
vfat.io	Yield Aggregator	$25.35M	+0.6%
Velodrome V3	Dexs	$18.66M	-2.8%
Velodrome V2	Dexs	$14.09M	-0.8%
TheDeep	Liquidity Manager	$4.6M	+4.0%
DyorSwap AMM	Dexs	$2.07M	+10.4%
SakuraSwap AMM	Dexs	$2.03M	-3.9%
SakuraSwap CLMM	Dexs	$1.74M	+1.2%

How to read Ink liquidity

7-day and 30-day nominal TVL tide

The short tide is +0.3% across 7.2 observed days. The 30-day tide is -7.5% across 30.2 observed days. Read those as nominal USD movement in the depth proxy. Token-price effects are not removed.

Protocol concentration

Bathymark reads 15 large protocols and 8 categories on Ink. Concentration matters because one venue can make a chain look deeper than it is, even when the venue also operates elsewhere.

Stablecoin cash layer

$158.39M of stablecoin circulating USD market value is visible on Ink in the current open-data read. This is not token count or reserve value.

What it cannot mean

Rising TVL cannot prove new users arrived. Falling TVL cannot prove abandonment. The number describes depth, then the cause has to be checked.

Questions this page answers

What is Ink TVL in this snapshot?

Ink reports $117.54M in nominal DeFi TVL on Bathymark's current open-data reading. That is a USD-valued depth proxy, not measured exit liquidity.

Is Ink nominal TVL rising or falling?

Which protocols hold the most liquidity on Ink?

Tether Gold, Sentora, Veda are among the deepest protocols Bathymark reads on Ink.

What does liquidity depth mean for Ink?

Measurement receipt

What this number is, and is not

Bathymark reads source-reported USD TVL as a chain-depth proxy. The value can move because assets repriced, deposits changed, withdrawals changed, incentives moved, or the source mapping changed.

Source: DeFiLlama chain, protocol, and stablecoin datasets
Snapshot: 2026-08-11T04:58:59.474Z
Freshness: Live validated snapshot
History: Current validated history captured 2026-08-11T04:59:14.872Z
Caveat: Nominal USD change, price effects are not removed

Read the method Inspect source policy

Connected to Ink

Every surface that reads this chain from another angle, so a question that starts here never dead-ends.