Analysts Believe Fantom Is A Massively Undervalued 'multi-billion-dollar L1' Project.

coinbuzzfeed.com4m ago

Fantom (FTM) ranks fourth among the largest blockchains in decentralised finance (DeFi) by total value locked.

Capriole founder Charles Edwards says Fantom is still massively undervalued and has huge potential. The analyst noted this even as Fantom (FTM) slipped 13% in the past 24 hours in terms of the total value locked (TVL).

“Fantom has had an incredible run lately, but it’s still the cheapest multi-billion-dollar L1 but a huge margin,” the analyst tweeted on Wednesday.

Fantom (FTM) is the fourth largest decentralised finance (DeFi) protocol by total value locked, behind top dogs Ethereum (ETH), Terra (LUNA), and Binance Smart Chain (BSC).

Fantom (FTM) in DeFi

Looking at the DeFi ecosystem TVL leaderboard, Ethereum holds forte as the largest with over $118.6 billion locked across 415 protocols. Terra (LUNA) has over $12.3 billion across 17 protocols, while BSC is third with over $12.3 billion locked in more than 290 protocols.

According to data from DeFi tracking platform DeFiLlama, the blockchain network has a total of $11.01 billion in TVL, spread across 131 protocols that include MultiChain (MULTI), SpookySwap (BOO), Yearn Finance (YFI), and Curve (CRV).

The value locked in the project has grown 39% this past week.

Read more: Source coinjournal