Fantom Finally Surpasses Avalanche by TVL, Who’s Next?


“Blockchain for NFTs” is one step away from the Big Three of smart contract platforms

Fantom (FTM), a novel high-performance smarts contract platform, expands its rally despite the bloodiest altcoin carnage in months. Its total volume of assets locked (aggregated USD-denominated price of all cryptos in active Fantom-based dApps) eyes the historic milestone of $10 billion.

Fantom’s TVL adds 33% in a week, Avalanche lags behind

According to stats shared by the Fantom Protocol Proponents Community Account (FTM), its TVL has surpassed that of the Avalanche (AVAX) platform.

As per data by leading DeFi analytical dashboard DeFiLLama, Fantom’s TVL metrics sit at almost $9.5 billion. The closest competitor, Avalanche (AVAX), sees $8.42 bllion locked in its decentralized applications.

In the past 24 hours, amid the bloodbath in the crypto markets, Fantom’s apps have lost 9.87% of their TVL while Avalanche’s protocols’ net TVL has fallen by 16.5% .

As such, Fantom’s dApps ecosystem needs to add 28% in TVL to challenge the third largest smart contracts platform, Binance Smart Chain (BSC). It does not look impossible for Fantom: in the past 30 days, its TVL rallied 131%.

Who builds on Fantom?

As covered by U.Today previously, analysts and investors are excited about Fantom’s progress in 2022. Coinfund’s Austin Barack claimed that FTM is heavily undervalued.

Mr. Barack attributed the potential upside of Fantom to its technical superiority and generous community programs focused on aggressive dApps onboarding.

As of January 2022, 128 protocols are active on Fantom (FTM); Multichain, SpookySwap and OXDAO are the most popular among them.


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