Fantom Has Surpassed Binance Smart Chain in Terms of Total Value Locked
Fantom Surpasses Binance Smart Chain
Recent news indicates that smart chain platform Fantom has finally surpassed Binance Smart Chain when it comes to TVL (Total Value Locked). Fantom currently has $11.78 billion which resulted from its value suddenly increasing over the past week.
FTM, Fantom’s native token is over 4,671.7% percent higher than the US dollar over the past two weeks. As of today FTM has a trading volume of about $1.6 billion and the overall platform has an estimated market valuation of nearly $4.9 billion.
Due to this rapid increase, Fantom has officially surpassed Binance Smart Chain making this scalable blockchain platform known as the third-largest DeFi blockchain in the market. In terms of smart contract platforms, Fantom has $510 billion making it the 13th largest as of today.
However this does not mean that Fantom has surpassed Binance greatly since Binance Smart Chain still has a large share on decentralized exchanges totaling up to 48.96%. And their TVL bales aren’t that far off either.
Fantom’s currency TVL as of today totals is around $12.66 billion while Binance Smart Chain has an estimated TVL of $11.68 billion. It may seem small when you look at it at first but this is billions of dollars we are talking about so the gap is significantly larger.
Currently, Fantom has the biggest TVL when it comes to cross-chain bridges, and this is all due to the massive spike that FTM received over the last seven days.
Binance Smart Chain has held its place for a long time on the top despite the unpredictability of the crypto market. However, Fantom has been catching up for a while now and thanks massive boost it received over the past few days was enough for it to surpass BSC at least in terms of TVL.
* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.