Are there any competitors to Ethereum worth investing?
Using the metric TVL (Total Value Locked), Ethereum is leading with $139b and a 60% marketshare.
TVL is the defacto metric used to measure DeFI adoption and measures the dollar sum of collateral deposited in that specific application.
Source: defillama.com
As you can see from the following chart, the situation has changed dramatically in just 1 year. 1 year ago, Ethereum had a greater than 90% share.
Source: defillama.com
So does that mean we should now look to some Ethereum competitors to invest?
Who are the new investors who have risen up in the last year?
Source: defillama.com
The second place BSC (BNB) with $15b TVL looks quite expensive with a Mcap/TVL ratio of 4.33 which is higher than Ethereum. There is also a -14% 1m change there.
The Cronos (CRO) has a +25% 1m change but also looks expensive compared to Ethereum with a ratio of 5.43.
Terra (LUNA) and Tron (TRON) look cheaper than Ethereum but have falls in the last month. Only Fantom stands out with a +6% change in the last month and looks much cheaper with a ratio of 0.53.
Key Takeaways:
-Cronos has the fastest growth in TVL in the last month
-Fantom has the lowest valuation when looking at Mcap/TVL ratio
-Only BSC, Terra and Avalanche have over 5% marketshare
Which competitors would you invest in and why?
Posted Using LeoFinance Beta
