Reading time: ~2 m
Bitcoin showed the worst start to the year in the history of exchange trading. The fall of the main cryptocurrency negatively affected almost all major altcoins and tokens of the top 30 rating, with the exception of Fantom (FTM) and Near Protocol (NEAR), which have been steadily and repeatedly updating highs since the beginning of 2022.
Growth against the general market trend usually requires important corporate news that attracts the attention of speculators and investors, but in the case of FTM they simply do not exist, according to NEAR they are insignificant enough to sustain the negative trend.
At the beginning of the year, Fantom reported on the work of the program to stimulate the development of the ecosystem, for which it allocated more than half a billion dollars in grants last fall. So far, only $44 million has been distributed, and this is all news because of the beginning of the year.
The growth of FTM is solely due to the activity of users, the number of transactions of which exceeded the number of transfers of the Avalanche network, which occupies the 12th place in the top 30 rating. Obviously, investors have decided that the Fantom technology and ecosystem is more competitive with the Ethereum network, judging by the level of TVL investment.
According to DeFi Lama, total investment in the DeFi industry is down 15% year-to-date. The main losses were suffered by the top TVL investment ratings: Ethereum, Terra, Binance Smart Chain and Avalanche.
At the same time, Fantom climbed to fifth place, demonstrating a 50% increase in investments in the platform’s DeFi protocols. Near Protocol growth rates are comparable for the first days of January.
It is likely that the influx of TVL is becoming a kind of indicator of the forecast for the growth of blockchains with smart contracts.
#Fantom #stable #altcoins #ranking #top #cryptocurrencies
