FTM Price Hit a 13% High! Is Andre Cronje’s Code the Reason?

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FTM, the native coin of Fantom blockchain, surged on Saturday after DeFi engineer Andre Cronje was seen coding code on the network. The coin gained 13% from intraday lows to $0.3746 in the last 24 hours, outperforming all of the top-100 cryptocurrencies.  

According to the data, Cronje is creating code for a Fantom stablecoin platform that spurred the token's rise.

Cronje, who is widely regarded as one of DeFi's most prolific developers, unexpectedly quit Fantom in early March, as a result of which FTM had suffered a significant selloff.