Crypto research firm Delphi Digital thinks Phantom designed for DeFi (FTM) could be the next big player among its layer 1 scaling solutions. According to the firm, the altcoin project is poised to make a big debut after raising another $1.2 billion in TVL. cryptocoin.com We are citing Delphi Digital’s analysis dated January 15th.
Phantom prepares to break records in TLV despite recession
In its latest tweets offering updates and analysis on the crypto market, Delphi Digital tells its 103,700 followers that Fantom (FTM) has challenged a market-wide downtrend by raising an additional $1.2 billion in locked value (TVL):
While TVLs stagnated across crypto, Phantom’s ecosystem was vibrant. Phantom earned 1.2 billion (+20%) on TVL last week.
Altcoin project exceeds $10 billion in TVL
The TVL 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 cryptocurrencies. Phantom also shares the tweet below to celebrate breaking the $10 billion TVL milestone.
About a year ago, Fantom described itself in a blog post as “Ethereum helper, a solution to transfer some of the payload from Ethereum to Fantom’s high-performance network.” At that time, FTM was valued at $0.02, while Ethereum (ETH) was trading around $630. Today, the Phantom is worth $2.89, marking a 148x increase, while Ethereum rose a little more than 5x from $3,330.
Long-term Bitcoin investors market turns
cryptocoin.com Apart from the altcoin analyzes we have quoted as the following, Delphi Digital concludes its analysis by reporting findings that suggest optimistic horizons for Bitcoin (BTC) after two difficult months:
On-chain data shows that during the price drop in January, long-term holders accumulated Bitcoin after months of selling Bitcoin at the end of last year. Combined with the correlation data shown yesterday, it shows 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.
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