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

Competitor Ethereum Fantom (FTM) is setting a new benchmark record amid sustained price declines across the crypto market.

New data from DeFi Llama, a decentralized financial analysis platform (DeFi) and virus-free tokens (NFTs), shows that Fantom prints high prices all the time in relation to the total value locked (TVL).

Fantom is a highly scalable blockchain platform for DeFi, decentralized applications (DApps) and enterprise applications. According to DeFi, Llama Fantom hit a record high of $ 10.51 billion in TVL, a staggering 362.3 million increase from its $ 2.90 million TVL in April 2021.

Source: DeFi Llama

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

With an all-time high in TVL, Fantom has managed to overtake rivals Ethereum Avalanche (AVAX) and Solana (SOL) to become the fourth largest blockchain in total value locked.

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

An increase in the total value of the locked Fantom occurs when the unchanged Ethereum Whale 1,000 tops gather FTM. The WhaleStats monitoring platform shows that Fantom is one of the top altcoins most bought by deep pocket investors in the last 24 hours with an average purchase amount of $ 1,620 of FTM tokens.

Whale Watch also reports that Ethereum Whale is collecting FTM coins worth more than $ 124.64 million.

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Featured Image: Shutterstock / Pavel Chagochkin / Vladimir Sazonov


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