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Fantom with rising TVL - winner in the crisis?

 


Fantom surprises in the middle of the crash. According to platform DeFiLlama, “Total Value Locked” is up around 38% over the past seven days. However, the leading protocols suffered double-digit losses over the same period. Avalanche (AVAX) and Solana (SOL) were also among the big losers.


This brings Fantom closer to third place among DeFi blockchains based on TVL. Already last year there was a big chair shift in the ranking. Terra overtook and is now in 2nd place behind Ethereum. Binance Smart Chain lost shares and is in 3rd place.


This puts Fantom in fourth place, closely followed by Avalanche and Solana. What's remarkable is that this is growth that's happening in the midst of the crisis.


FTM price also collapsed

The FTM course also collapsed in the last few days, but was able to move much closer to its all-time high than its competitors. This gives some hope because if the situation for the overall market turns around again, Fantom might be one of the hottest candidates for a rally.


But until Bitcoin changes direction and starts a countermovement after the sell-off of the last few days, it is very likely that nothing will come of it. The key currency of the crypto market remains captive in the face of the Fed's policy and awaits the results of the recent FOMC meeting.


In this regard, the question of whether the Federal Reserve's change of direction is priced in or whether investors will only react to the next announcement is particularly exciting. If one is to assume that the market has yet to capitulate, then the low volume so far would be a good indicator that it has not yet done so. On the other hand, such a bang is not absolutely necessary, as the market sentiment seems to be that many investors are already sitting in cash positions and are simply waiting to see what happens.


So there remains a lot of tension in the market that could unwind in the coming days and weeks.

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