High-performance blockchain Fantom is witnessing rapid increase in total value locked in all active dApp protocols
Scalable EVM-compatible blockchain Fantom demonstrates notable progress in late Q4, 2021. It looks like Ethereum (ETH) has one more dangerous “new-gen” competitor besides Terra (LUNA).
The Fantom dApps ecosystem is growing
Over the past seven days, four leading smart contract platforms have seen double-digit increases in Total Locked-In Value (TVL), that is, the USD-denominated market capitalization of all. cryptocurrency assets deposited by their customers.
Terra (LUNA), Fantom (FTM), Solana (SOL), Polygon (MATIC) are top performers in TVL rankings.
With its total value of $ 5.6 billion locked in, Fantom has overtaken veteran smart contract platform Tron (TRX).
Also, should it attract another $100 million from its dApps clients, it can surpass Polygon Network (formerly Matic Network, MATIC), well known for its low fees and fast execution of transactions.
FTM price jumps 70% in just five days
At the same time, to outperform its next competitors, Solana (SOL) and Avalanche (AVAX), Fantom must increase its TVL by more than 100%.
Fantom’s DeFi ecosystem has one “unicorn” with more than $1 billion locked (Multichain, a dApp that works on top of all EVM-compatible blockchains), while two platforms, SpookySwap and Tomb Finance, are ready to join the “three commas club.”
The price of FTM, a core native asset of Fantom Blockchain, reflects its explosive growth. Since December 21, 2021, it has added almost 70%.
By press time, FTM is changing hands at the local high over $2.32 on major spot platforms.
