Fantom Surpasses Binance Good Chain because the Third-Largest Defi Blockchain – Defi Bitcoin Information – Bitcoin Information

Advertisements

The total value locked (TVL) in decentralized finance (defi) protocols has lost 6.8% during the last 24 hours as crypto markets have experienced more losses. However, the Fantom blockchain has seen a TVL increase, jumping 46.62% over the last week. Fantom has managed to knock Binance Smart Chain (BSC) down a notch, as it now holds the third-largest share in the world of defi.

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

The defi and smart chain blockchain project Fantom has officially surpassed BSC in terms of TVL in defi protocols this week. On January 24, 2022, Fantom currently holds $11.73 billion, increasing by 46.62% in seven days.

While year-to-date, Fantom’s native token fantom (FTM) is up 4,671.7% against the US dollar, over the last two weeks, FTM has lost 18.6%. Today, there’s $1.6 billion in FTM trade volume and the project has a market valuation of around $4.9 billion.

Fantom Surpasses Binance Smart Chain as the Third-Largest Defi BlockchainThe total value locked across all the decentralized finance blockchains on January 24, 2022, at 9:50 am (EST).

Out of the $1.6 trillion crypto economy, the defi token fantom’s (FTM) overall valuation represents 0.31% of the aggregate. In terms of the $510 billion smart contract platforms, Fantom is the 13th largest blockchain, below Tron and above Stellar.

Fantom Surpasses Binance Smart Chain as the Third-Largest Defi BlockchainFTM/USD on January 24, 2022, at 9:50 am (EST).

Tether (USDT) captures 84.26% of today’s FTM trades, followed by BUSD with 5.8% of FTM pairs. The US dollar commands 5.15% of FTM swaps while bitcoin (BTC) has around 3.25% of the FTM share. The Turkish lira (TRY) has around 0.74% of all the fantom (FTM) swaps today.

Fantom Surpasses Binance Smart Chain as the Third-Largest Defi BlockchainThe total value locked in Fantom (FTM) on January 24, 2022, at 9:50 am (EST).

While fantom (FTM) is widely traded on decentralized exchange (dex) applications, the top centralized exchange offering FTM is Binance’s 48.96% share followed by Okex with 20.81%. Okex is followed by Digifinex, Kucoin, and Hitbtc in terms of the most active fantom (FTM) centralized exchanges.

Fantom Surpasses Binance Smart Chain as the Third-Largest Defi BlockchainTop 12 Fantom (FTM) defi protocols in terms of TVL on January 24, 2022, at 9:50 am (EST).

Fantom’s $11.73 billion TVL in defi is just above BSC’s $11.36 billion TVL. Above Fantom is Terra’s TVL in defi today with $15.75 billion, but Terra’s TVL has slid by 17.51% this week. BSC lost 19.73% during the last week and has seen around 4.36% in TVL leave in the last 24 hours.

The largest defi protocol on Fantom is Multichain with a dominance of 59.79% of Fantom’s $11.73 billion. Multichain’s $7.02 billion TVL is followed by 0xDAO ($3.94B), and Spookyswap ($957.16M). These three protocols command the lion’s share of Fantom’s total value locked in defi.

Fantom currently has the largest TVL in cross-chain bridges today as well, with $5.2 billion locked. In the last seven days, cross-chain bridge TVL on Fantom has increased 149%.

Tags in this story

0xDAO, Avalanche, Binance Smart Chain, Bridges, BSC, Cross-chain, decentralized finance, DeFi, Defi Apps, Defi Platforms, Defi protocols, defillama.com, ETH, ETH Defi, Ethereum, Ethereum defi, Fantom, FTM, FTM defi , multichain, Smart Contract Platforms, Spookyswap, Terra

What do you think about the Fantom blockchain’s recent defi action this past week? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Horizon provides Binance connectivity to its crypto buying and selling platform – FinanceFeeds Binance

Horizon provides Binance connectivity to its crypto buying and selling platform – FinanceFeeds

“We're already connected to main cryptocurrency exchanges and offering full scope of Principal Trading...

By wpadminsonic164
Crypto Exchange Provider Ranking’s Triumvirate of Binance, Coinbase and Crypto.com Remain on Top – PYMNTS.com Binance

Crypto Exchange Provider Ranking’s Triumvirate of Binance, Coinbase and Crypto.com Remain on Top – PYMNTS.com

It's probably worth pointing out that thanks to ties, there are now nine members...

By wpadminsonic164
Bitcoin Slips Beneath $ 50,000 As Binance Whale Warns Urgent BTC Value By Cointelegraph – Investing.com Binance

Bitcoin Slips Beneath $ 50,000 As Binance Whale Warns Urgent BTC Value By Cointelegraph – Investing.com

© Reuters. (BTC) lost $ 50,000 for the first time in days on December...

By wpadminsonic164
Binance Builds $1 Billion Insurance coverage Fund to Cowl Potential Hacks – The Block Crypto Binance

Binance Builds $1 Billion Insurance coverage Fund to Cowl Potential Hacks – The Block Crypto

display Binance has raised around $1 billion for an insurance fund created as a...

By wpadminsonic164
Binance is a Fully Regulated Digital Asset Service Provider in France, Just After Receiving Licenses in Dubai and Bahrain – African Business Binance

Binance is a Fully Regulated Digital Asset Service Provider in France, Just After Receiving Licenses in Dubai and Bahrain – African Business

Binance (www.Binance.com), the world's largest crypto and blockchain infrastructure provider, announced earlier that Binance...

By wpadminsonic164
‘India needs guideline before crypto speculations increase’: Binance APAC Head – The Indian Express Binance

‘India needs guideline before crypto speculations increase’: Binance APAC Head – The Indian Express

Despite regulatory challenges in India, Binance, the world's largest cryptocurrency exchange, is bullish on...

By wpadminsonic164
Binance stops Luna and UST exchanging following implosion – TechCrunch Binance

Binance stops Luna and UST exchanging following implosion – TechCrunch

Binance, the world's largest cryptocurrency exchange, has halted the trading of Terraform Labs' Terra...

By wpadminsonic164
How will regulatory points and obligatory KYC have an effect on the value of Binance Coin (BNB)?  – Cointelegraph Binance

How will regulatory points and obligatory KYC have an effect on the value of Binance Coin (BNB)? – Cointelegraph

Binance Coin (BNB) was up 30% in two weeks, but the fourth largest cryptocurrency...

By wpadminsonic164

Latest Posts

Instructions to Research Stablecoins | USDC, USDT, BUSD, PAXOS – Cardano Feed Cardano

Instructions to Research Stablecoins | USDC, USDT, BUSD, PAXOS – Cardano Feed

by Robin Smith May 24, 2022 DeFi videos In the part 1 of 2...

By wpadminsonic164
Kaspars Koskins, CEO of ADALend: “We’re constructing a safe lending platform on Cardano” |  Bitcoinist.com – bitcoinist.com Cardano

Kaspars Koskins, CEO of ADALend: “We’re constructing a safe lending platform on Cardano” | Bitcoinist.com – bitcoinist.com

Launch of the interview series from ADALend CEO Kaspars Koskins, one of the most...

By wpadminsonic164
Bitcoin plunges, and might there be another challenger on the way? Videos

Bitcoin plunges, and might there be another challenger on the way?

Brian Kelly on bitcoin's fall and Powell's comments on digital dollars. With CNBC's Melissa...

By wpadminsonic164
There’s an Insatiable Urge to Burn Crypto — A Have a look at Why Tasks Burn Tokens and the Advantages Bitcoin

There’s an Insatiable Urge to Burn Crypto — A Have a look at Why Tasks Burn Tokens and the Advantages

In recent times, cryptocurrencies that burn tokens have been very popular and a number...

By wpadminsonic164
Horizon provides Binance connectivity to its crypto buying and selling platform – FinanceFeeds Binance

Horizon provides Binance connectivity to its crypto buying and selling platform – FinanceFeeds

“We're already connected to main cryptocurrency exchanges and offering full scope of Principal Trading...

By wpadminsonic164
Dogecoin

Bitcoin Rises, Ethereum, Dogecoin Fall: On-Chain Metric Flags Bullish Sign – Benzinga – Benzinga

Bitcoin intraday returns exceeded those of altcoins as the global cryptocurrency market cap rose...

By wpadminsonic164
7 Bargain Cryptos to Buy After the Crash – InvestorPlace Polkadot

7 Bargain Cryptos to Buy After the Crash – InvestorPlace

While the pain in the cryptocurrency sector is tough to swallow, a bear market...

By wpadminsonic164
Cryptographic money is attempting to recover your trust – San Francisco Examiner Stellar

Cryptographic money is attempting to recover your trust – San Francisco Examiner

Confidence in the cryptocurrency industry has been fractured more than ever during the current...

By wpadminsonic164