Fantom (FTM) is the next big daddy in the list of Ethereum-competitors. Recently Fantom has toppled giants like Avalanche and Solana in terms of DeFi total-value-locked (TVL) which has now crossed $12.3 billion as per data from DeFiLlama.
In the last 24 hours, Fantom’s DeFi TVL has shot up by 17% making it the next dominating DeFi network after Etheruem. As popular crypto-journalist Colin Wu writes:
Various protocols compete for the upcoming ve(3, 3) NFT selected by Andre Cronje, attracting users to lock assets through higher APR.
Fantom’s TVL has shot up by a staggering 12x just over the last 4 months. However, one thing to observe is that the cross-chain router protocol Multichain has the maximum dominance at 57% in terms of Fantom DeFi TVL.
Fantom Surpasses Ethereum In Daily Transactions
Another major milestone that Fantom has currently achieved is that it has surpassed Ethereum in terms of daily active transactions. As a result, Fantom is further cementing its position as a premier L1 competitor to Ethereum.
The on chain metrics are undeniable. $FTM is proving itself to be one of the premier L1s. 👑
— Miles Deutscher (@milesdeutscher) January 24, 2022
Another thing is that Fantom’s (FTM) accessibility remains a big issue. Popular crypto investor and analyst Miles Deutscher writes:
$FTM accessibility is still a huge issue. Withdraws are often blocked on major exchanges, still no Coinbase, Kraken listings. Can you imagine what the $FTM price would be if it had the same exchange support as other projects? It will come, only a matter of time.
Over the last year, Fantom’s native crypto FTM has registered a strong rally and is one of the top trading digital assets in the market. However, in the recent crypto market rout, the FTM price has corrected more than 30% on the weekly chart.
As of press time, Fantom (FTM) is trading at a price of $2.08 and a market cap of $5.2 billion. This correction could probably be a good time to add FTM to one’s portfolio who believes in Fantom’s future.
- Just-In: European Central Bank Says Crypto Unsuitable As Store Of Value
- Shiba Inu The Most-Held Token By ETH Whales, Is Metaverse Hype Back?
- South Korean Terra Holders Skyrocketed After Its Crash, Here’s Why
- Verse Metaverse – LA Villa Hand Over On May 30
- Bitcoin (BTC) Faces A Crash To 2020 Lows, Here’s Why
- On-Chain Data: Bitcoin (BTC) Always Pegs Higher Trust Over Ether (ETH) in Bear Market
- Is Terra’s Singapore Office A “Paper Company?”
- Bitcoin (BTC) Options Market Hints Major Downside Risks Over Next 3-6 Months
- Bitcoin (BTC) Fails to Hold $30,000 Again, Guggenheim CIO Predicts A Crash to $8000
- Hard Fork Vs Genesis Chain: Terra Team Clears Air Around Debate
- AAVE Price Analysis: AAVE Chart Hints Coin Holders May Lose $100 Mark
- What Next For The Fast Recovering FTM Price?
- Ethereum Price Analysis: Triangle Pattern Foretells Upcoming Rally in ETH
- Zilliqa Price Analysis: Channel Breakout Hints ZIL Price to hit $0.1
- Bitcoin Price Analysis: Trapped Bullish Momentum Need Triangle Breakout
- FTM Price Analysis: Buyers Tease Breakout From Long-Coming Trendline
- GALA Price Analysis: High Momentum Fallout Warns $0.075 Fallout
- Solana Price Prediction 2022: Bulls to drive SOL Price to new Highs?
- Theta Price Prediction 2022 : Analysts Insights into the crucial Reversal levels
- Sandbox Price Prediction 2022 : Analysts Show Optimism Towards The Metaverse SAND Token