FTM was changing hands at $1.384, up 5.22% on the day
According to WhalesStats data, whales have purchased 20 million Wrapped Fantom Tokens (WFTM) and 1.1 million Fantom Tokens in the past few hours. Fantom (FTM) fell to $1.31 on March 7 on negative investor concerns when Andre Cronje, developer of Yearn.Finance and Keep3r, announced he was quitting, along with fellow software architect Anton Nell . At press time, FTM was changing hands at $1.384, up 5.22% on the day.
In two separate transactions recorded by WhaleStats, an FTM whale bought 20,752,988 WFTM, or $27,809,005 worth, while an ETH whale acquired 1,179,985 FTM, or $1,581,179 worth, at the current exchange rate.
The Fantom Foundation Responds to Investor Concerns
Andre Cronje, the developer of Yearn. Finance and Keep3r, announced the arrest with his colleague software architect Anton Nell, according to a tweet published Sunday by the latter.
In the wake of this, the Fantom Foundation quickly addressed the community’s concerns, assuring them that the exit of developers would have no negative impact on the project’s growth. Cronje’s contribution to crypto had been enormous, according to the foundation, but Fantom was not a “one-man team,” implying that the exit of a single developer should not derail the project in any way.
Anton Nell claimed in a tweet on Sunday that a total of 25 decentralized finance apps would be terminated from April 3. Yearn.Finance, Keep3r Network, Solidly and other protocols are among the discontinued projects.
Michael Kong, CEO of Fantom Foundation, clarified that this was misinformation: ”Many of you are aware, Anton, 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.”
Simone Pomposimarketing director of the Fantom Foundation, said: “Fantom will be fine, nothing has changed because the market reacted to the wrong message”.
