Spark TVL Falls 15.3% in a Week to $5.70B, a 30-Day Low

The distinction in the item is the real story: a TVL drop tied to dollar-denominated asset values is not the same as capital leaving, yet headline figures rarely carry that caveat. For a lending protocol, the gap between perceived outflow and actual balance-sheet change shapes how depositors and integrators read risk. Whether the decline reflects mark-to-market movement or genuine position changes is the open question, and that is what the next data prints should clarify.