“Blockchain for NFTs” is one step away from Big Three of smart contract platforms
- Fantom’s TVL adds 33% in a week, Avalanche left behind
- Who is building on Fantom?
Fantom (FTM), a novel high-performance smarts contract platform, expands its rally despite the bloodiest altcoin carnage in months. Its total volume of assets locked (aggregated USD-denominated price of all cryptos in active Fantom-based dApps) eyes the historic milestone of $10 billion.
Fantom’s TVL adds 33% in a week, Avalanche left behind
According to statistics shared by the community-driven account of Fantom (FTM) protocol supporters, its TVL surpassed that of the Avalanche (AVAX) platform.
— Fantom Community Alerts 👻🚨 (@FTMAlerts) January 22, 2022
As per data by leading DeFi analytical dashboard DeFiLLama, Fantom’s TVL metrics sit at almost $9.5 billion. The closest competitor, Avalanche (AVAX), sees $8.42 bllion locked in its decentralized applications.
In the last 24 hours, amid the bloodbath on crypto markets, Fantom’s apps lost 9.87% of their TVL while the net TVL of Avalanche’s protocols plummeted by 16.5%.
As such, Fantom’s dApps ecosystem needs to add 28% in TVL to challenge the third largest smart contracts platform, Binance Smart Chain (BSC). It does not look impossible for Fantom: in the past 30 days, its TVL rallied 131%.
Who is building on Fantom?
As covered by U.Today previously, analysts and investors are enthusiastic about Fantom’s progress in 2022. Coinfund’s Austin Barack claimed that FTM is heavily undervalued.
Mr. Barack attributed the potential upside of Fantom to its technical superiority and generous community programs focused on aggressive dApps onboarding.
As of January 2022, 128 protocols are active on Fantom (FTM); Multichain, SpookySwap and OXDAO are the most popular among them.