Fantom Surpasses Binance Smart Chain as the Third-Largest Defi Blockchain

The full worth locked (TVL) successful decentralized concern (defi) protocols has mislaid ​​6.8% during the past 24 hours arsenic crypto markets person experienced much losses. However, the Fantom blockchain has seen a TVL increase, jumping 46.62% implicit the past week. Fantom has managed to sound Binance Smart Chain (BSC) down a notch, arsenic it present holds the third-largest stock successful the satellite of defi.

Fantom’s Total Value Locked successful Decentralized Finance Jumps 46% successful 7 Days

The defi and astute concatenation blockchain task Fantom has officially surpassed BSC successful presumption of TVL successful defi protocols this week. On January 24, 2022, Fantom presently holds $11.73 billion, expanding by 46.62% successful 7 days.

While year-to-date, Fantom’s autochthonal token fantom (FTM) is up 4,671.7% against the U.S. dollar, implicit the past 2 weeks, FTM has mislaid 18.6%. Today, there’s $1.6 cardinal successful FTM commercialized measurement and the task has a marketplace valuation of astir $4.9 billion.

The full worth locked crossed each the decentralized concern blockchains connected January 24, 2022, astatine 9:50 a.m. (EST).

Out of the $1.6 trillion crypto economy, the defi token fantom’s (FTM) wide valuation represents 0.31% of the aggregate. In presumption of the $510 cardinal astute declaration platforms, Fantom is the 13th largest blockchain, beneath Tron and supra Stellar.

FTM/USD connected January 24, 2022, astatine 9:50 a.m. (EST).

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 portion bitcoin (BTC) has astir 3.25% of the FTM share. The Turkish lira (TRY) has astir 0.74% of each the fantom (FTM) swaps today.

The full worth locked successful Fantom (FTM) connected January 24, 2022, astatine 9:50 a.m. (EST).

While fantom (FTM) is wide traded connected decentralized speech (dex) applications, the apical centralized speech offering FTM is Binance’s 48.96% stock followed by Okex with 20.81%. Okex is followed by Digifinex, Kucoin, and Hitbtc successful presumption of the astir progressive fantom (FTM) centralized exchanges.

Top 12 Fantom (FTM) defi protocols successful presumption of TVL connected January 24, 2022, astatine 9:50 a.m. (EST).

Fantom’s $11.73 cardinal TVL successful defi is conscionable supra BSC’s $11.36 cardinal TVL. Above Fantom is Terra’s TVL successful defi contiguous with $15.75 billion, but Terra’s TVL has slid by 17.51% this week. BSC mislaid 19.73% during the past week and has seen astir 4.36% successful TVL permission successful the past 24 hours.

The largest defi protocol connected Fantom is Multichain with a dominance of 59.79% of Fantom’s $11.73 billion. Multichain’s $7.02 cardinal TVL is followed by 0xDAO ($3.94B), and Spookyswap ($957.16M). These 3 protocols bid the lion’s stock of Fantom’s full worth locked successful defi.

Fantom presently has the largest TVL successful cross-chain bridges contiguous arsenic well, with $5.2 cardinal locked. In the past 7 days, cross-chain span TVL connected Fantom has accrued 149%.

What bash you deliberation astir the Fantom blockchain’s caller defi enactment this past week? Let america cognize what you deliberation astir this taxable successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, defillama.com,

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