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Fantom's DeFi-ecosystem was the third largest blocked fund

Fantom's DeFi-ecosystem was the third largest blocked fund

Smart contracts platform Fantom has surpassed Binance Smart Chain (BSC) in terms of locked-in assets (TVL) and moved into third place with ~$12 billion, according to DeFiLlama.

Second place goes to Terra, which displaced BSC in December 2021 and continues to hold the position. Ethereum leads by a wide margin.

Data: DeFiLlama.

As of this writing, Fantom has blocked funds from 129 protocols that support the network. TVL on the blockchain has added more than 48% in the last seven days, up 162% in a month.

Dominating the ecosystem is Multichain, a $7.03 billion crosschain protocol that operates on 13 other blockchains;

The leader is followed by projects 0xDAO and SpookySwap with TVL of $3.94 billion and about $976 million, respectively. These DeFi protocols support only Fantom.

Data: DeFiLlama.

On January 17, 2021, the price of the Fantom native token (FTM) climbed to around $3.38, nearing its October high of $3.46 (CoinGecko). Over the past week, the asset has corrected with the market and is trading at $1.92.

Data: TradingView.

The token has a capitalization of about $4.85 billion. In the overall ranking of cryptocurrencies by FTM, it is located in 28th place. Binance and OKX (formerly OKEx) account for the bulk of the trading volume.


Recall that in January a vulnerability was found in the Multichain protocol, which has managed to take advantage of attackers. According to PeckShield, the loss amounted to at least 450 ETH.

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