Fantom (FTM) Overtakes Avalanche and Solana in DeFi TVL

Ethereum-killer Fantom (FTM) is setting new records amid the growing price declines across the crypto market. Data from DeFi analytics platform DeFi Llama suggest that the blockchain network has now crossed $12.2 billion in terms of the total value locked (TVL). Over the past 24 hours, Fantom’s TVL has shot up by 17% making it the next dominating DeFi network after Etheruem. In fact, its TVL has grown by 12 times in just over the last 4 months. The blockchain network has even overtaken that of the heavy-stalwarts like Avalanche (AVAX), Solana (SOL) to become the fourth-largest blockchain in total value locked. Binance Smart Chain is currently the third-largest blockchain with $11.74 in total value locked with Terra (LUNA) at number two with $16.12 billion. Ethereum remains the top blockchain with $116.23 billion in TVL. The rise in Fantom’s total value locked comes as the top 1,000 non-exchange Ethereum whales accumulate the FTM token. For instance, data from whale-monitoring platform WhaleStats shows that Fantom was one of the top altcoin which were bought by large investors in the last 24 hours with an average purchase amount of $1,620 worth of FTMs. Over the last year, FTM had a strong price performance and remains one of the top trading digital assets in the market. However, in the latest crypto blood bath, the token has corrected over 30% on its weekly chart. At the time of writing, Fantom (FTM) is currently trading at $2...