Cypher
Avalanche (AVAX)Fantom (FTM)NewsPrice Analysis

Fantom Hits an ATH, Surpassing AVAX in TVL

Briefly

  • Fantom has its TVL surpassing Avalanche’s after FTM attained a new ATH early today.
  • According to a diluted market cap, a massive gap exists between AVAX and FTM and might be closed with the correct sentiments in the crypto markets.
  • AnySwap, a cross-chain protocol, is among the fast-expanding projects on the Fantom network; its total value locked increased by 80% since yesterday.

Fantom, a highly scalable blockchain network, has seen increased growth in projects such as AnySwap. Competing with altcoins like Polygon and Avalanche, FTM gained by around 25% in the past 24 hours.

FTM Continues to Rally as Investors Expect Further Fantom Ecosystem Growth

Yearn Finance, comprising multiple protocols on the ETH blockchain to optimize crypto earning via trading and lending services, introduced four vaults on the FTM ecosystem. With the move, Yearn Finance has migrated to Fantom from Ethereum.

Cypher

Yield Finance is a recognized Dei protocol, and the high-speed, low-cost services by Fantom have attracted the project’s developers. Analysts consider such shifts vital in Fantom’s growth. Moreover, the decentralized finance ecosystem has enjoyed a boom this year.

📰 Also read:  Nokia Projects Increase in Network Demand Citing Development on Metaverse 

The yield aggregator offers customers high yields on their assets based on Ethereum. Early today, the DeFi ecosystem pillar declared launching vaults and Iron Bank on Fantom early today. Moreover, Fantom appears keen on CBDCs. The project partnered with OJSC Tajikistan to develop a CBDC for the Asian nation.

FTM has seen its on-chain activity exploding. That had its TVL exceeding that of Polygon and Avalanche combined. Meanwhile, the TVL rise does not show a fully diluted market cap. For now, analysts believe the gap might remain as proponents believe traditional financial markets are more efficient than crypto markets.

AnySwap emerges the fasted-expanding project among all crypto projects on Fantom. AnySwap’s TVL increased by 80% since yesterday, contributing to the increased FTM’s on-chain activity. An unknown analyst trusts that the FTM market cap will double in the coming sessions, nearing ETH-killers Terra and Solana. He believes that FTM will hit $3 if it maintains its current momentum.

📰 Also read:  Stacks Experience 13% Uptrend, As Market Maintains Bullish Trend

Stay tuned for the latest updates in the crypto space.


Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  FidelityCorp Review – Is Fidelity Corp Scam or Legit? (Complete FidelityCorp.co review)

Cypher

Nicolash Ferreira Souza (Brazil)

Nicholash is a cryptocurrency user from Brazil, he is one of the new writers on Tokenhell and his articles are cryptocurrency news and reviews related posts. Stay tuned to his most recent posts to keep up to date with the most recent happenings from the crypto world.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content