Fantom Surpasses Binance Smart Chain as the Third-Largest Defi Blockchain
This week, the defi and smart-chain blockchain project Fantom officially surpasses BSC in terms TVL in defi protocols. Fantom’s current holdings of $11.73 Billion were up 46.62% in seven consecutive days on January 24, 2022.
Year-to-date Fantom’s native symbol fantom (FTM), is up 4,671.7% versus the U.S. Dollar. However, FTM has experienced a 18.6% drop in the past two weeks. FTM trade volume today is $1.6 billion and the market value of the project is around $4.9 Billion.
The $1.6 trillion crypto economy has a total valuation of 0.31%. This is the overall value of defi token Fantom (FTM). Fantom, which is below Tron and Stellar, is the 13th-largest blockchain in terms of $510 billion smart contracts platforms.
Tether ( USDT) captures 84.26% today’s FTM swaps. BUSD is next with 5.8% of FTM pair. The U.S. dollar controls 5.15% FTM swaps, while bitcoin ( BTC ) holds around 3.25%. TRY has around 0.7% of all FTM swaps.
Fantom (FTM), which is traded on decentralized exchanges (dex) apps, is most widely traded on Binance’s 48.96%. Okex is next with 20.81%. In terms of most active fantom (FTM), centralized exchanges, Okex is closely followed by Digifinex and Kucoin.
Fantom’s $11.73billion TVL in defi just surpasses BSC’s £11.36 billion TVL. Terra’s TVL today in defi is $15.75 billion. However, Terra’s TVL dropped by 17.51% this Week. BSC has lost 19.73% in the past week, and has seen approximately 4.36% TVL leave within the last 24 hours.
Multichain is Fantom’s largest defi protocol with a dominance at 59.79%. Fantom has $11.73 billion. Multichain’s $7.02B TVL is closely followed by 0xDAO ($3.94B) and Spookyswap ($957.16M). These three protocols hold the largest share of Fantom’s total defi value.
Fantom has $5.2 billion in cross-chain bridge TVL, making it the current largest TVL. Fantom’s cross-chain bridge TVL has increased by 149% in the past seven days.