The Total Value Locked—TVL—on the Fantom blockchain has surpassed $12 billion after jumping 65% in the last 2 weeks. In the last 30 days, the value of the Fantom blockchain has risen 170%. With this massive increase in value, Fantom is now the 3rd-largest blockchain, after Ethereum and Terra, in terms of TVL. The logic behind this news is that the price of Fantom is going to follow an increase in TVL. When the cap to TVL ratio is under, that implies that the token is undervalued. As of Tuesday morning, Fantom’s market cap to TVL ratio is around 0.48. By contrast, Luna’s ratio is 1.58, and Ethereum’s is 2.5. At the same time, Fantom is only about a 6th of the price of Solana, a 3rd of the price of Avalanche, and half the price of Polygon. Experts and analysts are also taking to Twitter to point out that Fantom seems to be undervalued. Fantom Insider tweeted, “FTM is the most undervalued chain by TVL and it’s not even close.” At press time, Fantom was up nearly 25%, trading at $2.41 on an increasing market cap and rising volume.