THREAD🧵: Why $FTM is the most undervalued L1 in crypto (TVL analysis).
Out of the top 10 chains by TVL, $FTM has the lowest Mkt Cap/TVL Ratio. This means by TVL metrics, $FTM is the most undervalued chain in the top 10.
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Out of the top 10 chains by TVL, $FTM has the lowest Mkt Cap/TVL Ratio. This means by TVL metrics, $FTM is the most undervalued chain in the top 10.
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When we compare $FTM's ratio of 1.15 to projects like $SOL (4.35), and $AVAX (1.9), we can start to see how undervalued $FTM truly is.
According to TVL, $FTM is:
- 3.8x undervalued compared to Solana
- 1.7x undervalued compared to Avalanche
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According to TVL, $FTM is:
- 3.8x undervalued compared to Solana
- 1.7x undervalued compared to Avalanche
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Since October 1st, we have seen TVL on $FTM grow by 248%. This explosive growth is facilitated by amazing protocol developments.
When $FTM was at its ATH of 3.50, TVL was almost the EXACT same as it was now! This means that $FTM is ~27% undervalued compared to October 28.
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When $FTM was at its ATH of 3.50, TVL was almost the EXACT same as it was now! This means that $FTM is ~27% undervalued compared to October 28.
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Unlike other chains, $FTM's TVL is very well diversified - meaning this metric is a more accurate measure of quantifying growth.
This is due to the sheer number of quality projects in the $FTM DeFi ecosystem. This spread of liquidity indicates increased sustainability.
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This is due to the sheer number of quality projects in the $FTM DeFi ecosystem. This spread of liquidity indicates increased sustainability.
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Of course, TVL is just one metric comprising a variety of important factors. But it is still an important one to analyse when determining the current fair value of L1s.
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If you enjoyed this thread, please show some love by liking and retweeting to help spread $FTM to the world ♥️
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