Although Ethereum rival Fantom (FTM) is setting new fundamental records simultaneously that the cryptocurrency market deterioration. Fantom is also attempting to establish new fundamental records of its own.
According to DeFi Llama, a DeFi and NFT analytics platform, Fantom has a new all-time high in terms of TVL.
Fantom is a blockchain platform that is extraordinarily scalable for Decentralized Financial Institutions (DeFi), Decentralized Applications (DApps), and Enterprise Applications. It is also highly secure. According to DeFi Llama’s analysis, the price of Fantom increased more than 362,300 percent since its previous high of $2.90 million in April 2021. That resulted in a current market capitalization of $10.51 billion.
The overall value of a blockchain or DeFi protocol’s TVL states in US dollars. TVL measures the amount invested in a blockchain or DeFi protocol’s intelligent contracts in bitcoin. For the total collateral value, multiply the total collateral by the current asset market value of the network.
FTM Surpasses Ethereum
Fantom (FTVL) surpassed fellow Ethereum competitors Avalanche (AVL) and Solana (SOL) to claim the fourth position in terms of TVL. This is a new all-time high for this particular category of products. There was a time when Avalanche and Solana were the third and fourth largest blockchains in the world, respectively, but things changed.
According to DeFi Llama, Binance Smart Chain is presently the third most valuable cryptocurrency globally. It has a market capitalization of $11.74 at the time of publishing this article. We have placed Terra (LUNA) at number two on our list. With a market capitalization of $16.12 billion following the receipt of $16.12 billion in financing. ETH (Ethereum) remains the most valuable blockchain in transactions, with a total value of $116.23 billion, making it the most valuable blockchain in terms of TVL.
Ethereum Whales Increases Fantom Value
The purchase of Fantom by the top 1,000 non-exchange Ethereum whales increases the value of Fantom, which these whales have locked in. FTM tokens were one of the popular altcoins for high-net-worth investors in the previous 24 hours. It has an average buy price of $1,620 for a total of 1,620 FTM tokens purchased. Using Fantom, a cryptocurrency, it is possible to create and sell virtual objects. To make money transfers between themselves and other high-net-worth individuals more convenient, fintech entrepreneurs established Fantom.
According to the website, according to data gathered by the whale-surveillance website, Ethereum whales together own FTM coins worth $124.64 million.
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