Phantom (FTM) price soars 25% on rumors of Andre Cronje’s return

Speculation about Andre Cronje’s return to the Phantom Foundation has fueled its token price in the past.

Phantom (FTM) price is up by 33% over the past 24 hours from $0.21 high yesterday to $0.28 high. Although currently trading near $0.27, the increase is in line with the coin’s recent upward trend. It is up about 25% in the past week, up from 35% in the past two weeks.

The recent favorable Phantom price traction is largely the result of renewed activity from the protocol’s mastermind, André Cronje.

Cronje suddenly left DeFi

Andre Cronje has played a big role in the development of decentralized finance. In addition to Phantom, the software architect is also known for including Ear Finance, Keep3r Network, Sushi Swap and Solidly, among others.

Earlier this year, he caused waves in the cryptocurrency community when he announced that he would be leaving the sector. Cronje had previously expressed dissatisfaction with working in the industry, aptly titled “Building in Defy Sucks”. Because his contribution was so significant, it stalled many projects, and put billions of dollars at risk.

Return of the Phantom?

Now, recent activity by a dissenting DeFi developer has sparked speculation as to whether he is back. Last week, his account on Medium published a lengthy article summarizing the current state of the cryptocurrency market. However, Cronje’s long inaction, and based on the article suggesting more crypto regulation, led some to doubt its authenticity.

Nevertheless, earlier today Cronje updated his LinkedIn profile to announce that he is the Vice President of Memes at the Phantom Foundation. In addition to being the project’s technical advisor, he previously served as the president of the Phantom Foundation.

True to its title, VP deployment of A meme on his verified Twitter page implying that he is indeed back.

A rundown by another Twitter user on adding Cronje’s recent actions predated something similar.


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