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