FANTOM- The Cronje Storm Has Passed
We have had no further Flight but a troubled situation with Andre Cronje:
YFI, FTM Tank After Andre Cronje, Anton Nell Claim They're Leaving Crypto
Both YFI and FTM plummeted by double digits immediately following the announcement.
Cryptocurrencies associated with Cronje’s projects, such as FTM and YFI, dove sharply after the surprise announcement—yearn.finance (YFI) plunged 13% from almost $20,000 to $17,000. Fantom (FTM) was down 15% over the past 24 hours, trading at $1.42 as of this writing. Solidly (SOLID), which only launched last week, has fallen 64.73% over the past day, now worth $1.13.
Fantom’s FTM token recovered some of its loss during the morning hours in Europe following a plunge on Sunday after decentralized finance (DeFi) architect Andre Cronje and his business partner said they would no longer be involved in the crypto market as developers.
FTM dropped 8% in the past 24 hours to as low as $1.32 in early Asian trading hours, more than 60% below its lifetime high of $3.46 in October.
Foundation CEO Michael Kong addressed investor concerns in a tweet earlier today as prices fell. “The Fantom ecosystem consists of hundreds of developers building many great applications. They will continue,” he said. “Anton (Nell), who works with Andre, tweeted that they were 'terminating' 25 projects. This was misunderstood. They are 'terminating' their involvement, but handing over anything they run to the existing teams.”
Fantom still one of our favorites here.
One Love,
the FXPROFESSOR
YFI, FTM Tank After Andre Cronje, Anton Nell Claim They're Leaving Crypto
Both YFI and FTM plummeted by double digits immediately following the announcement.
Cryptocurrencies associated with Cronje’s projects, such as FTM and YFI, dove sharply after the surprise announcement—yearn.finance (YFI) plunged 13% from almost $20,000 to $17,000. Fantom (FTM) was down 15% over the past 24 hours, trading at $1.42 as of this writing. Solidly (SOLID), which only launched last week, has fallen 64.73% over the past day, now worth $1.13.
Fantom’s FTM token recovered some of its loss during the morning hours in Europe following a plunge on Sunday after decentralized finance (DeFi) architect Andre Cronje and his business partner said they would no longer be involved in the crypto market as developers.
FTM dropped 8% in the past 24 hours to as low as $1.32 in early Asian trading hours, more than 60% below its lifetime high of $3.46 in October.
Foundation CEO Michael Kong addressed investor concerns in a tweet earlier today as prices fell. “The Fantom ecosystem consists of hundreds of developers building many great applications. They will continue,” he said. “Anton (Nell), who works with Andre, tweeted that they were 'terminating' 25 projects. This was misunderstood. They are 'terminating' their involvement, but handing over anything they run to the existing teams.”
Fantom still one of our favorites here.
One Love,
the FXPROFESSOR
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🌐 Public Telegram: t.me/fxprofessor88
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