Fantom Network Ranks as Third Largest DeFi Project by TVL

[Pagla]

The competition in the crypto space is often intense as each project tries to outdo the other. The Fantom Network emerged as the third-largest DeFi protocol by total value locked a few days ago. Fantom flipped Binance Smart Chain to attain this feat.
Earlier this week, data from DefiLlama showed that Fantom had over $12.2 billion in total value locked (TVL) across its network, giving it an edge above others. In addition, the value of DeFi-based projects on Fantom surged 52%. This growth is directly related to Fantom’s unique features that place it as a potential rival to Ethereum.

Fantom Surges to Third
TVL refers to the overall value of crypto assets placed in a DeFi system. It has become an important statistic for evaluating popularity in that particular segment of the cryptocurrency market.

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