In terms of total locked value, Fantom (FTM) ranks fourth among the largest bloc chains in decentralized finance (DeFi).
Capriola founder Charles Edwards says the Phantoms are still greatly underrated and have great potential. The analyst found this, although Phantom (FTM) has slipped 13% over the last 24 hours relative to total locked value (TVL).
“The boys have had incredible success lately, but it’s still the cheapest L1, worth billions of dollars, but with a big margin«,« Analyst he tweeted on Wednesday.
Phantom (FTM) is the fourth largest decentralized finance protocol (DeFi) in terms of locked total value, behind the top dogs Ethereum (ETH), Terra (LUNA) and Binance Smart Chain (BSC).
Phantom (FTM) in DeFi
Looking at the list of the best TVL DeFi ecosystems, Ethereum is the largest with more than $ 118.6 billion locked in 415 protocols. Terra (LUNA) has more than $ 12.3 billion in 17 protocols, while BSC is third with more than $ 12.3 billion locked in more than 290 protocols.
According to the allegations data from the DeFi tracking platform DeFiLlama has a blockchain network totaling $ 11.01 billion TVL, spread across 131 protocols that include MultiChain (MULTI), SpookySwap (BOO), Yearn Finance (YFI) and Curve (CRV).
The value locked in the project increased by 39% last week.
In fact, the Phantom chain, a Level 1 protocol that boasts very high scalability and cheap transactions, briefly overtook the BSC last weekend before the fall of TVL brought it back to fourth place.
Fantom chips continue to attract even more investors looking for higher returns and transaction speeds, keeping the 1st layer blockchain ahead of competitors such as Avalanche (AVAX), Solana (SOL) and Polygon (MATIC).
TVL on the Phantom surpassed $ 11 billion, which is a record value and surpassed Avalanche and Solana. For the upcoming ve (3, 3) NFT chosen by Andre Cronje, various protocols compete to attract users to lock funds with a higher APR. pic.twitter.com/AcfLBY4AoG
– Wu Blockchain (@WuBlockchain) January 23, 2022
In the market, the price of FTM has jumped by 2% in the last 24 hours, as the bulls want to bounce higher after a wider sale in the cryptocurrency market. The FTM / USD pair is trading around $ 2.36, which is about 20% less last week and almost 33% lower than the historical high of $ 3.46 reached last October.
Earlier this month, cryptanalysts Michael van de Poppe highlighted The guy among the chips is likely to be better in 2022.