Fantom (FTM) has been in full swing in terms of price action and Total Value Locked (TVL) for the past couple of weeks. The project has managed to gain a whopping 100% surge in just over the last seven days. However, with a 17.56% surge in the trading volume, the FTM price is trading at $2.42 at the press time.
Although Fantom holds leading-edge features such as high transaction handling capacity, affordable fees, exciting rewards, and more, yet it is still not an asset under the top 20. There are a certain number of factors running to the limelight of late that confirm the healthy network growth.
Fantom TVL Poised To Enter top 5 After Flipping Matic!
The wider crypto-sphere has lost most of its profits in the first half of December. Whilst, the second half was impressive with Fantom popping up to be the most notable gainer amongst a majority of the altcoins under the top 50. There has been a sort of tug war between Fantom and Matic to dominate in their total value locked.
However, recently Fantom has attempted to surpass Matic’s TVL, yet Matic has managed to take over later. With a very small difference, FTM holds a TVL of $7.11 billion holding position beneath Matic. On another interesting note, pseudonymous trader disclosed that FTM has seen a second-highest weekly increase in TVL after LUNA. Further, the blockchain ranks top 5th in terms of carrying out total on-chain transactions of 21 million in November.
FTM Thrives For 118X Upswing!
Fantom is one of the low cap gems with groundbreaking advantages. The altcoin holds a market cap of $6 billion and it has the potential to 10x and flip Solana in the upcoming bull cycle. However, the project has solid applications in comparison to Ethereum. Like Fantom is EVM compatible which possesses a large chunk of transactions at a reliable cost. Moreover, it is highly scalable than Ethereum and holds a substantial developer fund. One of the crypto proponents shared an enthralling chart to explain how FTM is still utterly undervalued and 118X from here would take it to the top 2!
Collectively, the Fantom ecosystem is growing at a brisk phase lately. Once traders start to realize the advantages of the platform over other blockchains, the platform has the massive potential to get to the place where it deserves. It might be the most undervalued asset right now if FTM price could be 25x in the upcoming cycle, then it would park its position under the top 5!