The total value locked (TVL) in decentralized finance (defi)
protocols has lost 6.8% during the last 24 hours as crypto markets
have experienced more losses. However, the Fantom blockchain has seen a
TVL increase, jumping 46.62% over the last week. Fantom has managed to
knock Binance Smart Chain (BSC) down a notch, as it now holds the
third-largest share in the world of defi.
Fantom’s Total Value Locked in Decentralized Finance Jumps 46% in 7 Days
The defi and smart chain blockchain project Fantom
has officially surpassed BSC in terms of TVL in defi protocols this
week. On January 24, 2022, Fantom currently holds $11.73 billion,
increasing by 46.62% in seven days.
While year-to-date, Fantom’s native token fantom (FTM) is up 4,671.7%
against the U.S. dollar, over the last two weeks, FTM has lost 18.6%.
Today, there’s $1.6 billion in FTM trade volume and the project has a
market valuation of around $4.9 billion.
Out of the $1.6 trillion crypto economy, the defi token fantom’s
(FTM) overall valuation represents 0.31% of the aggregate. In terms of
the $510 billion smart contract platforms, Fantom is the 13th largest
blockchain, below Tron and above Stellar.
Tether (USDT)
captures 84.26% of today’s FTM trades, followed by BUSD with 5.8% of
FTM pairs. The U.S. dollar commands 5.15% of FTM swaps while bitcoin (BTC) has around 3.25% of the FTM share. The Turkish lira (TRY) has around 0.74% of all the fantom (FTM) swaps today.
While fantom (FTM) is widely traded on decentralized exchange (dex)
applications, the top centralized exchange offering FTM is Binance’s
48.96% share followed by Okex with 20.81%. Okex is followed by
Digifinex, Kucoin, and Hitbtc in terms of the most active fantom (FTM)
centralized exchanges.
Fantom’s $11.73 billion TVL in defi is just above BSC’s $11.36
billion TVL. Above Fantom is Terra’s TVL in defi today with $15.75
billion, but Terra’s TVL has slid by 17.51% this week. BSC lost 19.73%
during the last week and has seen around 4.36% in TVL leave in the last
24 hours.
The largest defi protocol on Fantom is Multichain with a dominance of
59.79% of Fantom’s $11.73 billion. Multichain’s $7.02 billion TVL is
followed by 0xDAO ($3.94B), and Spookyswap ($957.16M). These three
protocols command the lion’s share of Fantom’s total value locked in
defi.
Fantom currently has the largest TVL in cross-chain bridges today as
well, with $5.2 billion locked. In the last seven days, cross-chain
bridge TVL on Fantom has increased 149%.
source link : https://news.bitcoin.com/fantom-surpasses-binance-smart-chain-as-the-third-largest-defi-blockchain/
