In the list of Ethereum competitors, Fantom (FTM) is the next big daddy. According to data from DeFiLlama, Fantom has recently surpassed giants like Avalanche and Solana in terms of DeFi total-value-locked (TVL), which has already surpassed $12.3 billion.
Fantom’s DeFi TVL has increased by 17% in the previous 24 hours, making it the second most popular DeFi network after Etheruem. Colin Wu, a well-known crypto-journalist, writes:
“Various protocols compete for the upcoming ve(3, 3) NFT selected by Andre Cronje, attracting users to lock assets through higher APR.”
Over the previous four months, Fantom’s TVL has increased by an astounding 12x. One thing to note is that in terms of Fantom DeFi TVL, the cross-chain router protocol Multichain has the most domination, with 57 percent.
In daily transactions, Fantom (FTM) surpasses Ethereum.
Another significant achievement for Fantom is that it has now eclipsed Ethereum in terms of daily active transactions. As a result, Fantom is solidifying its place as a leading L1 Ethereum contender.
Furthermore, Fantom’s (FTM) accessibility remains a significant issue. Miles Deutscher, a well-known cryptocurrency investor and expert, writes:
“$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.”
Fantom’s native crypto FTM has seen a significant increase in value over the last year and is now one of the most actively traded digital assets on the market. On the weekly chart, however, the FTM price has corrected more than 30% during the recent crypto market panic.
Fantom (FTM) has a market capitalization of $5.2 billion and is now trading at $2.08. If you trust in Fantom’s future, this pullback could be an excellent moment to add FTM to your portfolio.
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