What Cryptocurrency Is Pumping In Current Bear Market?

Yesterday I discuss options for investors / traders during a bear market. However what I neglected to emphasize was where I was finding the investment options clearly. Today's post I will be emphasizing what those options are.

Fast Growing TVL

Total Value Locked (TVL) is a great read on whether a chain is popular. For instant currently number #1 Ethereum has over $115 billion in TVL. There is a significant gap from #1 and #2 as Terra is behind at $16 billion in TVL. With that ignoring how much each chain's native token price we can see marketcap of each token has ETH a lot higher than Luna. $282 billion for ETH and $25 billion for Luna.

Accelerated Growth?

The main image of the post is identifying the Fantom chain is actually rising compare to the rest of the markets. This is during a time where price of cryptocurrencies are falling over 20%. Fantom's native token FTM can not avoid the dip either as it is barely holding above $2. Yet why am I focused on Fantom? Their TVL is one of the only chains green on the daily, weekly and month. Such a trend and continuation to rise is providing the evidence that investors are placing their cryptocurrencies onto the platform.

Diagram above is an over exaggeration of what is happening but is very likely something similar is happening. That is investors from different chains are bridging over to Fantom in mass.

Specific to Fantom one protocol that started last Friday has now amassed over $4 billion in TVL. Imagine if a chain can get a few protocols up to lure in that many users how much potential that can be for the entire chain?

The accelerated TVL will boost confidence and interest for new investments to roll in. Can this be sustainable is the risk. Like the old saying the higher they go the harder they fall. It remains to be seen if Fantom protocols will remain this hot during the bear market or even in a bull market?

Conclusions

In a bear market one market that has their Defi grow at rapid pace is noteworthy. Can this be sustained is the question of concern. Yet in a bear market anything that is going up needs to have some attention.

Fantom chain is exactly that. It has accelerated TVL growth and doing so during a cryptocurrency bear market. It is worth a look into.

None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!