Ethereum competitor blockchain Phantom (FTM)While the crypto markets were generally in a downtrend, they managed to escape this trend and continue to strengthen by breaking records.
New data from DeFi Llama, an analytics platform focused on decentralized finance (DeFi) and immutable tokens (NFTs), shows that Phantom has passed an all-time high in terms of “locked aggregate value (TVL)”.
phantom network; DeFi stands out as a highly scalable blockchain platform for decentralized applications (DApps) and enterprise applications. DeFi LlamaAccording to Phantom, it hit a record high in TVL with $10.51 billion in April 2021, an astonishing 362,300% increase from its $2.90 million TVL.
The TVL of a blockchain or 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.
Reaching an all-time high in TVL, Phantom Ethereum competitors It surpassed Avalanche (AVAX) and Solana (SOL) to become the fourth largest blockchain with total value locked.
DeFi Llama indicates that Binance Smart Chain is currently third on the list with $11.74 billion in total value locked in. Terra (LUNA) ranks second with a total locked value of $16.12 billion. Ethereum (ETH) remains the top blockchain with $116.23 billion in TVL.
The increase in the total locked value of Phantom came as the top 1000 Ethereum whales accumulated FTM.
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