Crypto analysis agency Delphi Digital thinks a blockchain platform designed for decentralized finance (DeFi) could possibly be the following main participant amongst layer-1 scaling options.
In its Delphi Daily tweets providing updates and insights concerning the crypto house, the agency tells its 103,700 followers that Fantom (FTM) is defying an industry-wide downtrend by racking up an extra $1.2 billion in complete worth locked (TVL).
“While the TVLs throughout crypto have stagnated, @FantomFDN’s ecosystem has been vibrant.
Fantom has gained $1.2B (+20%) in TVL over the previous week.”
The TVL of a DeFi protocol represents the entire capital held inside its good contracts. TVL is calculated by multiplying the quantity of collateral locked into the community by the present worth of the property.
The Fantom Foundation additionally took to Twitter to have fun surpassing the $10 billion TVL milestone.
Fantom simply handed $10B in TVL!
An enormous thanks to the neighborhood and all of the builders!
Fantom ❤️ you pic.twitter.com/0OTwOzk2Ab
— Fantom Foundation (@FantomFDN) January 12, 2022
Just over a yr in the past, Fantom mentioned in a weblog post that it envisioned itself as an “Ethereum helper, an answer to switch a few of the load off Ethereum to Fantom’s high-performance community.”
At that point, FTM was valued at $0.02 whereas Ethereum (ETH) had a value of $638.
Delphi Digital wraps up its cryptocurrency evaluation by reporting on findings that counsel optimistic horizons for Bitcoin (BTC) after a tough two months.
“On-chain information exhibits that all through January’s value hunch, long-term holders have accrued Bitcoin after months of offloading Bitcoin on the finish of final yr.
Coupled with the correlation information proven yesterday, it illustrates a transference from shorter-term ‘weak palms’ to long-term ‘sturdy palms.’
An increase in long-term holder accumulation could possibly be a optimistic indicator for Bitcoin value.”
At time of writing, Bitcoin is transferring sideways and buying and selling at $43,709.
Disclaimer: Opinions expressed at The Daily Hodl are usually not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any loses you might incur are your accountability. The Daily Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Daily Hodl an funding advisor. Please observe that The Daily Hodl participates in affiliate marketing online.
Featured Image: Shutterstock/Shaiith/andregric