FTM Tokens Are Growing Despite The Drop of The Broader Crypto Market

The FTM price is up 9% in the past 24 hours, while Bitcoin, Ether and other cryptocurrencies have dropped as much as 7%, data from analytics tool Messari shows. Fantom tokens bounced off $2 on Tuesday morning and rose 30 cents on Wednesday. At the time of writing, the FTM price is $2.18.

According to CoinGecko, the price has risen by almost 77% over the past two weeks. This surge is due to the growing interest in layer 1 blockchains, presented as an alternative to Ethereum. Ethereum has been criticized for its slow transaction times and fees that can go as high as $100 during periods of high activity.

TVL was more than $5.6 bln as of Wednesday morning, according to analytics tool DeFi Llama. Almost $1.2 bln was added over the past week. An all-time high of $6.15 bln was reached in November.

Image: CryptoMode