2 years ago
Fantom overtook Binance Smart Chain (BSC) implicit the play to go the third-largest decentralized concern (DeFi) ecosystem by full worth locked, information from analytics instrumentality DeFiLlama showed.
DeFi broadly refers to astute contract-based fiscal services specified arsenic trading, lending and borrowing offered by blockchain projects to users.
As of Monday greeting successful Europe, much than $12.2 cardinal worthy of Fantom’s FTM and different tokens are locked connected 129 protocols geared towards Fantom users. That's conscionable implicit $94 cardinal locked per task connected average. This is simply a 52% summation successful the past week, and a greater-than 170% summation implicit the past month, the information showed.
Cross-chain swap Multichain is the biggest protocol by worth locked connected Fantom, with implicit $6.97 cardinal worthy of assets successful its astute contracts. In 2nd spot is the comparatively caller 0xDAO, which locks implicit $3.91 billion, portion decentralized speech SpookySwap takes 3rd spot with conscionable implicit $1 cardinal successful locked value.
Multichain is the biggest task connected Fantom by worth locked. (DeFiLlama)
BSC slipped to the fourth-largest DeFi ecosystem with $11.96 cardinal successful locked worth implicit 294 projects. Terra, which displaced BSC successful December 2021 to go the second-largest DeFi ecosystem, retains its 2nd spot with $16.54 cardinal successful locked value. Ethereum retains the DeFi crown with implicit $116 cardinal successful locked worth implicit 415 projects, much than immoderate different blockchain.
Ethereum remains the apical DeFi protocol by worth locked. (DeFiLlama)
Tokens of Fantom person emerged arsenic the apical performers successful caller months arsenic investors stake connected the tokens of furniture 1 projects – protocols with their autochthonal blockchains, specified arsenic Fantom oregon Solana – arsenic an alternate to Ethereum.
FTM prices roseate from $1.30 successful mid-December to attack all-time highs of $3.46 successful earlier this month, earlier tumbling with the broader marketplace successful the past week.
DISCLOSURE
The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of Digital Currency Group, which invests successful cryptocurrencies and blockchain startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.
Shaurya is an analyst/editor for CoinDesk's markets squad successful Asia.
Subscribe to Crypto Long & Short, our play newsletter connected investing.
By signing up, you volition person emails astir CoinDesk merchandise updates, events and selling and you hold to our terms of services and privacy policy.
English (US) 