Key Takeaways
- According to experts, Fantom protocol (FTM) will replace Solana this year by total value locked (TVL)
- There are now over 1.5 million unique addresses on the blockchain
YEREVAN (CoinChapter.com) – As experts analyze the past year in cryptocurrencies, predictions about what 2022 could potentially have in store are already doing the circles. One network analysts seem to be bullish about is Fantom (FTM). According to predictions, Fantom will flip Solana (SOL) by Total Value Locked (TVL) in what may turn out to be an active Q1 for altcoins.
Currently, Fantom’s total value locked amounts to over $5.6 billion against Solana’s TVL of over $10 billion.
Fantom is a fast-growing protocol, albeit one that doesn’t find much mention in the cryptocurrency discussions. Pitted as one of the main challengers of Ethereum (ETH) along with the likes of Solana (SOL) and Avalanche (AVAX), the ambitious blockchain is set for a bullish rally.
The Year-To-Date (YTD) returns of the protocol constitute around a staggering 15,000%. The blockchain also has executed over 153 million transactions to date. However, this may be the beginning.
The potential Ethereum-killer protocol has over 1.5 million addresses registered on its blockchain. Furthermore, based on the data provided by Fantom Blockchain Explorer FTM Scan, there is a daily increase of about 13,000 unique wallets on the chain.
Additionally, FTM, the native token of Fantom blockchain, ranks 28 among the top cryptocurrencies. Over 72,000 wallets currently hold FTM, an increase of over 10,000 wallets since the beginning of last month.
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What could propel a Fantom (FTM) rally?
FTM currently trades for $2.85, a massive 139817.84% up from its all-time low in March of 2020. In the past month alone, the token has rallied about 70%, according to CoinMarketCap.
Fantom’s returns in 2021 constituted 111x compared to the 44x of Avalanche. Solana was only slightly ahead, with a 162X return rate, which Fantom will look to surpass.
The high-potential network also has an increasing developer activity on its blockchain, at par with projects like Polygon (MATIC) and Tera (LUNA).
The stablecoin growth on the network will also result in organic growth. In addition, the various applications that people are building on the blockchain, particularly in the NFT and GameFi space, will help take the project above Solana by TVL.
However, despite the fast-growing growth in TVL on Fantom, the Market Cap of FTM $7.2 billion remains significantly lower than other Ethereum killers such as Solana and Avalanche.
This means FTM has significant headroom for massive future value growth, and it will be so long before Fantom flips Solana.
