(Twitter) Fantom network native token FTM rose more than 15% on Monday after speculation emerged that former developer Andre Cronje was returning.
Speculations of Cronje return followed a tweet by Wu Blockchain that the former developer had released the Fantom fUSD optimization proposal. The tweet also indicated that Cronje had bought almost 100 million worth of FTM.
The gains in FTM happened after periods of decline following the exit of lead developer Anton Nell and Cronje in early March. FTM has since dropped to below $0.3 following the exits, from the highs above $3 in mid-January.
Fantom’s total value locked was also hit by the exit of network developers and is currently around $1.3 billion, compared to March highs of $8.19 billion. Stablecoin FUSD also lost a peg and is currently around $0.68, below the $1 peg.
FTMUSD is up 15.02%.
