Fantom (FTM) ranks fourth among the many largest blockchains in decentralised finance (DeFi) by complete worth locked.
Capriole founder Charles Edwards says Fantom continues to be massively undervalued and has large potential. The analyst famous this at the same time as Fantom (FTM) slipped 13% previously 24 hours when it comes to the overall worth locked (TVL).
“Fantom has had an unbelievable run currently, but it surely’s nonetheless the most affordable multi-billion-dollar L1 however an enormous margin,” the analyst tweeted on Wednesday.
Fantom (FTM) is the fourth largest decentralised finance (DeFi) protocol by complete worth locked, behind prime canines Ethereum (ETH), Terra (LUNA), and Binance Sensible Chain (BSC).
Fantom (FTM) in DeFi
Wanting on the DeFi ecosystem TVL leaderboard, Ethereum holds forte as the most important with over $118.6 billion locked throughout 415 protocols. Terra (LUNA) has over $12.3 billion throughout 17 protocols, whereas BSC is third with over $12.3 billion locked in additional than 290 protocols.
Based on data from DeFi monitoring platform DeFiLlama, the blockchain community has a complete of $11.01 billion in TVL, unfold throughout 131 protocols that embrace MultiChain (MULTI), SpookySwap (BOO), Yearn Finance (YFI), and Curve (CRV).
The worth locked within the tasks has grown 39% this previous week.
The truth is, the Fantom chain, a layer 1 protocol that boasts of very excessive scalability and low-cost transactions, briefly overtook BSC final weekend earlier than a drawdown in TVL took it again into fourth.
Fantom tokens proceed to draw much more buyers searching for greater yields and velocity of transactions, retaining the layer 1 blockchain forward of rivals similar to Avalanche (AVAX), Solana (SOL), and Polygon (MATIC).
Out there, FTM worth has jumped 2% previously 24 hours as bulls search to bounce greater following a broader sell-off within the crypto market. The FTM/USD pair is buying and selling round $2.36, about 20% down over the previous week and practically 33% off its all-time excessive of $3.46 reached in October final 12 months.
Earlier this month, crypto analysts Michael van de Poppe highlighted Fantom amongst tokens more likely to outperform in 2022.