Phantom [FTM]: Here’s what you need to know with Andre Cronje’s comeback potential

There is a Latin proverb like “quod approbo non reprobo”. The literal translation of the proverb is “What I approve, I must not disapprove.”

In layman’s terms, this means that you cannot blow hot and cold at the same time.

Well, this doesn’t happen in Andre Cronje’s case. presentation In March 2022, he left the Fantom Foundation and the cryptocurrency space. This announcement led to a sharp decline in the value of the FTM token.

Also, through blog post Conje, published in April under the title “The Rise and Fall of Cryptocurrency Culture,” stated that he had no intention of returning to the cryptocurrency space and urged stricter regulatory measures in the cryptocurrency space.

As of May 21st, Andre Cronje is spotted Coding for the Fantom Foundation stablecoin platform caused the price of the FTM token to surge 6% in one day. Coin’s reaction to news of Conje’s comeback, which has risen 16% in the past 24 hours? Let’s explore…

Andre Giant

Having recorded tremendous progress over the past 24 hours, the FTM token has seen its price surge 16% after witnessing Conje writing some code for the Fantom Foundation stablecoin platform.

At $0.4218 at press time, the token price has risen 13% in the last 7 days.

In addition, the past few days have been marked by a bullish bias towards FTM tokens. The 37.60 index, which was in an upward trend at the time of the press, increased buying pressure for the token, which further pushed the price higher. Similarly, an MFI slightly above the 50 neutral region indicates increased accumulation at press time.

This was 51.60 at the time of reporting. The MACD position also supported the bullish divergence. A MACD line was found that intersects the trend line on the uptrend while maintaining its position below the histogram bar.

Source: TradingView

All-round development of cards?

Considering the data on the chain, it appears that the FTM token has grown overall over the past 24 hours.

The index for the number of unique addresses associated with daily FTM transactions skyrocketed following news of Andre Conje’s possible cryptocurrency return. At press time, the network’s daily active addresses increased by 21% to 443.

Fantom FTM 08.27.01 22 May 2022

Source: Santiment

In addition to this, the total amount of FTM tokens for every transaction that occurred on the network every day surged on May 21st after Conje’s activity was discovered. In terms of trading volume, it has surged by 40%.

Fantom FTM 08.30.22 22 May 2022

Source: Santiment

The number of active deposits on the network has also increased. From 81 active deposits on May 21, that number increased by 20% and stood at 98 at the time of writing.

Fantom FTM 08.33.24 22 May 2022

Source: Santiment

The big whale also showed some movement in response to Conje’s activity yesterday, leaving an index on the number of deals over $1 million, which surged 300%.

As expected, when news of Konze’s activities came out, it received a great response from society. At the time of reporting, the social dominance of the FTM token was 0.352, an increase of 20% as of May 21st. Similarly, social volume soared 12%.

Fantom FTM 08.45.44 22 May 2022

Source: Santiment

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