Binance Smart Chain (BSC) is no longer a top 3 decentralized finance (DeFi) chain by total value locked. According to available data from DeFiLlama, that distinction now belongs to Fantom which experienced an over 60% surge in the past two weeks.
Per DeFiLlama, Fantom’s TVL crossed the $12 billion mark during the weekend despite the bearish nature of the entire crypto market. However, that figure has now dropped to $11.87 billion while that of BSC stands at $11.48 billion.
Fantom’s run coincides with the crypto community becoming increasingly interested in shedding its dependence on Ethereum, due to its high transaction fees and scalability issues.
