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One Ethereum Rival Eyes Major Breakout After Gaining $1,200,000,000 in Total Value Locked: Delphi Digital

Crypto analysis agency Delphi Digital thinks a blockchain platform designed for decentralized finance (DeFi) could possibly be the subsequent main participant amongst layer-1 scaling options.

In its Delphi Daily tweets providing updates and insights in regards to 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.”

Source: Delphi Digital/Twitter

The TVL of a DeFi protocol represents the full capital held inside its sensible 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.

Just over a yr in the past, Fantom mentioned in a weblog post that it envisioned itself as an “Ethereum helper, a solution to transfer some of the load off Ethereum to Fantom’s high-performance network.”

At that point, FTM was valued at $0.02 whereas Ethereum (ETH) had a price of $638.

Today Fantom is valued at $2.96, marking a 148x improve, whereas Ethereum at $3,315 has pulled barely greater than a 5x.

Delphi Digital wraps up its cryptocurrency evaluation by reporting on findings that recommend optimistic horizons for Bitcoin (BTC) after a tough two months.

“On-chain information exhibits that all through January’s price stoop, long-term holders have amassed 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 hands’ to long-term ‘strong hands.’

An increase in long-term holder accumulation could possibly be a optimistic indicator for Bitcoin price.”

Source: Delphi Digital/Twitter

At time of writing, Bitcoin is shifting sideways and buying and selling at $43,709.

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Featured Image: Shutterstock/Shaiith/andregric

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