Phantom (FTM) is poised to surpass popular altcoin Polygon (MATIC) in total value. Maybe (AVAX) is next. High-performance blockchain Fantom is witnessing a rapid increase in the total value locked across all active dApp protocols.
This altcoin project is performing high
The scalable EVM-compatible blockchain Phantom is showing remarkable progress in late Q4 2021. It looks like Ethereum (ETH) has one more dangerous “next generation” competitor alongside Terra (LUNA). The phantom dApps ecosystem is gaining strength. Over the past seven days, four top smart contract platforms have witnessed double-digit increases in terms of total value locked (TVL), i.e. the market value in USD of all crypto assets deposited by their customers. Terra (LUNA), Phantom (FTM), Solana (SOL), Polygon (MATIC), TVL ranking top performers.
With a total unlocked value of $5.6 billion, Fantom has surpassed veteran smart contracts platform Tron (TRX). It could also overtake Polygon Network (formerly Matic Network, MATIC), which is known for its low fees and fast transaction processing, if it pulls another $100M from its dApps clients. The price of FTM rose 70% in just five days. At the same time, Phantom needs to increase his TVL by more than 100% to beat the next rivals Solana (SOL) and Avalanche (AVAX). The price of FTM, the core native token of the Phantom Blockchain, reflects its explosive growth. It has increased by almost 70% since December 21, 2021. At the time of writing, FTM is changing hands at over $2.32 on major spot platforms.