Experts predict Fantom price will rally 20% as TVL crosses $5.83B in total volume locked

Fantom price exploded in the past week, total value locked in the network crossed $5.83 billion. Proponents have predicted a recovery in Fantom price from the recent crash. 

Fantom price eyes 20% price rally 

The highly scalable blockchain platform, Fantom suffered a drop in price. In the recent crypto crash, the token’s price plunged. 

Fantom price has posted over 5% losses over the past 24 hours. The layer-1 blockchain supports the creation and execution of multiple chains. 

Over the past week, Fantom network’s total volume locked has nearly doubled, hitting a local high. 

An independent consensus layer, ‘Lachesis’, provides security to multiple layers in the scalable blockchain network. Fantom has Ethereum Virtual Machine (EVM)-compatible smart contract chains, making it lucrative for traders and investors. 

The token’s price exploded over the past week, posting consistent gains. This has contributed to the spike in total volume locked (similar to market capitalization). Fantom’s TVL has surpassed $5.83 billion based on crypto data platform Defi Llama. 

Fantom’s future plans are to enable fast and cost-efficient transactions through its Lachesis Protocol. 

@AltcoinSherpa, a pseudonymous crypto analyst, had predicted a spike in Fantom price based on his analysis of the asset. 

@ThisIsMuse, a crypto analyst and trader has drawn a similar conclusion based on the evaluation of Fantom price trend. The analyst believes that Fantom price could rally to $2.60, a 20% gain from the current level.