Wednesday’s move in FTM follows gains for tokens of other layer 1 blockchains. A basket of three leading Ethereum competitors, Solana, Terra and Avalanche – dubbed the SoLunAvax trade – has gained 400% since May. Some high-profile funds, such as Singapore-based Three Arrows Capital, have even cut back from investing in the Ethereum ecosystem to fuel bigger bets on products building on Avalanche instead.
Fantom Surges as Investors Seach for Next Layer 1 Bet
