Fantom (FTM) is up 24% over the past 24 hours to $0.27 amid rumors that DeFi trailblazer Andre Cronje is returning to the trade.
The worth motion continues the asset’s latest upward pattern, which had seen it rise by 25% within the final seven days and over 20% within the earlier 30 days. FTM traded over $0.40 in early August; nevertheless, the asset skilled a market downturn that pushed its worth to as little as $0.19 on Oct 13.
The whole quantity of belongings locked in Fantom additionally reacted positively to the hypothesis, rising 3.10% within the final 24 hours to $517.22 million.
Cronje’s rumored return
Rumors of Cronje’s return started final week when he revealed a medium submit discussing the varied points that led to the latest market meltdown. The DeFi developer additionally used the chance to name for extra regulatory reforms.
The weblog submit divided the crypto group, with some arguing that it was not from him. Nevertheless, earlier immediately, Cronje up to date his LinkedIn to the Vice President of Memes on the Fantom Basis, including that he began the place this month.
— iamdefinitelyandre.ftm (@AndreCronjeTech) November 3, 2022
His verified Twitter account additionally shared a tweet that implied he was again within the trade — all of those have sparked hypothesis that Cronje has lastly returned.
In July, Cronje denied he was behind an account masquerading as him on Twitter. The account, which has now been deleted, tweeted in regards to the developer returning to the trade, resulting in a short pump for FTM-related tokens.
Cronje is extensively hailed as the daddy of DeFi and is credited with growing a number of tasks, together with Yearn Finance, Keep3rV1, PowerPool, SushiSwap, PowerPool, CreamV2, and many others. He was Chairman of the Fantom Basis and served because the venture’s technical advisor.
