Over $12.2 billion worth of FantomFDN’s FTM and other tokens are locked on 129 protocols, making it the third-largest DeFi protocol by market cap. By shauryamalwa
Fantom overtook Binance Smart Chain over the weekend to become the third-largest decentralized finance ecosystem by total value locked, data from analytics toolDeFi broadly refers to smart contract-based financial services such as trading, lending and borrowing offered by blockchain projects to users.locked on 129 protocols
geared towards Fantom users. That's just over $94 million locked per project on average. This is a 52% increase in the past week, and a greater-than 170% increase over the past month, the data showed. Cross-chain swap Multichain is the biggest protocol by value locked on Fantom, with over $6.97 billion worth of assets in its smart contracts. In second place is the relatively new 0xDAO, which locks over $3.91 billion, while decentralized exchange SpookySwap takes third place with just over $1 billion in locked value.BSC slipped to the fourth-largest DeFi ecosystem with $11.96 billion in locked value over 294 projects.
FTM prices rose from $1.30 in mid-December to approach all-time highs of $3.46 in earlier this month, before tumbling with the broader market in the past week.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
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Fantom overtakes Binance Smart Chain in DeFi TVLFantom has overtaken Binance Smart Chain (BSC) to become the third-largest blockchain in decentralized finance (DeFi) as measured by total value locked (TVL), according to DeFiLlama. Fast facts Fantom’s TVL bucked the global crypto market downtrend and increased more than 60% to US$12.2 billion...
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