thecoinrepublic.com
- Fantom has beaten Tron, the experienced smart contracts platform, with a total value of $5.6 billion locked up (TRX).
- Four top-tier smart contracts platforms saw double-digit increases in total value locked (TVL), or the USD-denominated total value of all cryptocurrency assets placed by their clients, in the previous seven days.
It has been a period of gains for various cryptocurrencies, which have impressed traders and resulted in their growth. Similarly, Fantom is one of the probable altcoins that has seen a significant shift in the fourth quarter of 2021. Fantom is a decentralized blockchain platform for Defi. Also, it is an open-source smart contract platform for crypto dApps and digital assets. Also, it is one of several blockchain networks competing with Ethereum.
Indeed, it appears like Ethereum is about to face a new opponent other than Terra (LUNA). Fantom, a scalable EVM-compatible blockchain, has grown in TVL with a 21.73 percent price increase in the previous 7 days.
The price of Fantom has skyrocketed
To beat its competitors, Solana (SOL) and Avalanche (AVAX), Fantom must improve its TVL by more than 100%.
Fantom’s Defi ecosystem includes one “unicorn” worth over $1 billion (Multichain, a dApp that runs on top of all EVM-compatible blockchains), and two platforms, SpookySwap and Tomb Finance, they may enter the “three commas club.”
The price of FTM, a Fantom Blockchain native asset, showed a tremendous rise. It has increased by about 70% since December 21, 2021.
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FTM was trading at $ 0.018 at the start of this year, with 80 percent of its total supply in circulation. It surpassed $3.13 by the end of October and reached ATH. Not long later, on November 11, he increased to ATH level somewhat.
Furthermore, if Fantom can raise another $100 million from its dApps clients, it will be able to best Polygon Network (previously Matic Network, MATIC), which is famed for its cheap fees and quick transaction execution.