Terra And Fantom Could Go 5x With Resurgence In TVL Very Soon

The post Terra And Fantom Could Go 5x With Resurgence In TVL Very Soon appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

New addresses and transactions on Terra and Fantom have spiked over the year and new projects are emerging on these platforms. Both of these projects could be able to buck the trend and are expected to dominate the DeFi space. 

the old axiom “follow the money” could resemble “follow the total value locked“. The more is TVL, the healthier is the network. Especially, Terra surged more than $1 billion in TVL in the last 24 hours after a prolonged downtrend in January. Fantom was one of the most undervalued assets that have seen more than a 2.15% increase in TVL in just 24 hours. 

Also Read: Ethereum and Terra Short Term Bounce! ETH & LUNA Price To Hit This Level Before Plunging

Terra Tears the Bears! 

Terra has experienced a steep fall of more than 10% on Monday, post popular DeFi platform Wonderland enwrapped in a glitch when one of its employees was disclosed in recent days for being involved in one of the crypto frauds. However, the platform has instantly recovered after the crash followed by the grand commencement to the new month with 5% gains. 

The price has approximately lost over 50% of its value in January, and bulls are expected to accumulate the bottoms to propel the price above $100 in February. As RSI is hovering at the buy zone, LUNA price is likely to onboard the upward trajectory. 

Fantom Roots For $5! 

Compared to blue-chip cryptocurrencies such as ETH, AVAX, and SOL, FTM is most undervalued based on its TVL to its market cap. The total value locked has grown by more than $3 billion in just one month. Especially, from just 5,000 unique active addresses in January 2021 surged to 1.5 million by the end of the year. And over the past month, the number spiked from 18,650 to 750,000 transactions per day. 

Hence, the platform has been growing rapidly and is likely to reach its true potential in the near future. Despite adverse market sentiments, Fantom price remained almost invulnerable to FUDs. Currently, with a recovery in its price action, the altcoin has surged to $2.09 with 3.04% gains round the clock. If bulls continue to accumulate the current bottoms, the price may flip $2.5 to surge by 2x. 

Collectively, the total value locked indicates the healthy network connection between the platform and the community. Terra and Fantom would dominate the DeFi space in the next couple of months with the surge in TVL and price action.