Market structure
Concentrated liquidity: TVL can sit outside the trading range
The capital recorded in a pool is not necessarily available around the current price.
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Dans cet article
Concentrated-liquidity designs let liquidity providers allocate capital to selected price ranges. Positions outside the current range can retain value while contributing no active liquidity at the current price. Total value locked therefore does not fully describe the depth available to a trade.
Read positions and ranges
MASTR's TRUMP snapshot recorded 12 creator positions, with 11 outside their active range. The marked value of those positions could not be equated with the same percentage of immediately usable trading liquidity.
A price move can cross into or out of populated ranges, changing execution sharply. A static pool total will hide some of this behaviour. Inspect the relevant range distribution and obtain an executable quote for the intended size without assuming the quote will remain available indefinitely.
Liquidity ownership also matters. The ability to withdraw or reposition a position is different from the ability to mint tokens. Contract permissions, LP control and valuation belong in separate parts of the analysis.
Sources
Recherche vérifiée le 5 septembre 2026. Historical cases retain the date and legal status of the cited record.