Ethereum Rival Fantom (FTM) Overtakes Solana (SOL) and Avalanche (AVAX) To Become Fourth-Largest Blockchain by Total Value Locked

The Ethereum Challenger Phantom (FTM) set a new record as prices continued to drop in the cryptocurrency market.

New data from DeFi Llama, an analytics platform focused on decentralized finance (DeFi) and non-fungible tokens (NFT), shows Fantom set a record for Total Locked (TVL). He appears.

Fantom is a scalable blockchain platform for DeFi, decentralized applications (DApps), and enterprise applications. According to DeFi Llama, Fantom reached $10.51 billion in TVL, a staggering increase of more than 362,300% from April 2021’s $2.9 million TVL.

Source: DeFi Llama

The blockchain or DeFi TVL protocol represents the total capital held in the smart contract. TVL is calculated by multiplying the amount of collateral locked into the network by the current value of the asset.

Ghost, which set a new record for TVL, has overtaken Ethereum competitors Avalanche (AVAX) and Solana (SOL) to become the fourth largest blockchain in locked totals.

DeFi Llama shows that the Binance Smart Chain is currently at number three on the list, with the total value locked at $11.74. Terra (LUNA) came in second with $16.12 billion. Ethereum (ETH) itself remains on top of the TVL blockchain with a value of $116.23 billion.

The increase in the total value of the locked ghosts occurs as the top 1000 non-exchanged whales accumulate in Ethereum. Whale-watching platform WhaleStats shows that Fantom is one of the best altcoins bought by well-funded investors in the last 24 hours, with an average purchase of $1,620 worth of FTM tokens. more.

The Whale Surveillance website also shows that Ethereum whales hold a total of $124.64 million in FTM coins.

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Featured Images: Shutterstock / Pavel Chagochkin / Vladimir Sazonov

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