Crypto research firm Delphi Digital thinks Fantom (FTM) designed for DeFi could be the next big player among Layer 1 scaling solutions. According to the firm, the altcoin project is poised to make a big debut after raising another $1.2 billion in TVL.

Delphi Digital, in recent tweets offering updates and analysis on the crypto market, tells its 103,700 followers that Fantom (FTM) has challenged a market-wide downtrend by raising an additional $1.2 billion in locked value (TVL).

   “While TVLs stagnated across crypto, Fantom's ecosystem was vibrant. Fantom earned 1.2 billion (+20%) on TVL last week.”

ftm eyes breakout

The TVL of a DeFi protocol represents the total capital held in its smart contracts. TVL is calculated by multiplying the amount of collateral locked into the network by the current value of the cryptocurrencies. Fantom also celebrated breaking the $10 billion TVL milestone with a social media post.

Fantom described himself as follows in a blog post about a year ago.

   "Ethereum helper is a solution to transfer some of the payload from Ethereum to Fantom's high-performance network."

At that time, FTM was valued at $0.02, while Ethereum (ETH) was trading around $630. Today, the Fantom is worth $2.89, marking a 148x increase, while Ethereum rose a little more than 5x from $3,330.

"Positive Indicator for Bitcoin Price"

Delphi Digital wraps up its analysis by reporting findings that suggest optimistic horizons for Bitcoin (BTC) after two difficult months.

   “On-chain data shows that during the price drop in January, long-term holders are accumulating Bitcoin after months of selling Bitcoin at the end of last year. Combined with the correlation data shown yesterday, it shows the shift from short-term 'weak hands' to long-term 'strong hands'. An increase in futures owner accumulation could be a positive indicator for Bitcoin price.”

long term holders have bee