Crypto research firm Delphi Digital has launched a platform designed for decentralized finance (DeFi). Ethereum competitor He thinks the blockchain platform could be the next big player among Tier-1 scaling solutions.
In a series of tweets that shared updates and insights on the crypto world, Delphi Digital noted that Fantom (FTM) challenged the downtrend in the crypto world by acquiring an additional $1.2 billion in locked value (TVL).
“While TVLs stagnated across crypto, @FantomFDN’s ecosystem was vibrant. Phantom earned $1.2 billion (+20%) on TVL last week.”
The TVL (locked total value) of a DeFi protocol represents the total capital held in its smart contracts. TVL is calculated by multiplying the amount of collateral locked into the network by the current value of the assets.
The Phantom Foundation also took to Twitter to celebrate breaking the $10 billion TVL milestone.
Phantom just passed $10B in TVL!
A huge thank you to the community and all the builders!
Phantom ❤️ you pic.twitter.com/0OTwOzk2Ab
— Phantom Foundation (@FantomFDN) January 12, 2022
The Phantom revealed itself in a blog post a little over a year ago. “Ethereum helper is a solution to transfer some of the payload from Ethereum to Fantom’s high-performance network” had introduced.
Phantom (FTM) At that time, it was trading at $0.02, while Ethereum was trading at $638. Today, Phantom is worth $2.96 and is up 148x, while Ethereum is up a little more than 5x at $3,315.
Delphi Digital wraps up its cryptocurrency analysis by reporting findings that suggest optimistic horizons for Bitcoin (BTC) after two tough months.
“On-chain data shows that during the price drop in January, long-term holders were accumulating Bitcoin after dumping Bitcoin for months at the end of last year.
Combined with the correlation data shown yesterday, it proves the shift from short-term ‘weak hands’ to long-term ‘strong hands’. An increase in long-term owner accumulation could be a positive indicator for Bitcoin price.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.