By Richard Hines
Andre Conje, the CEO of Fantom, reappears after a one-and-a-half-year absence; this event saw a boost in the market price of the FTM tokens.
Andre Conje Is Back
After the long dreaded absence of renowned cryptocurrency developer and mastermind of numerous projects, Andre Cronje makes a reappearance. The developer had been MIA on Twitter for about a year and a half for reasons that were unbeknownst to the general public. His entrance was revealed, however, by a modification in his display picture and the addition of a new suffix of “.ftm” to his Twitter account.
Andre Conje is credited with inventing Defi, the now-popular feature of cryptocurrency known as Decentralized finance. He possesses a Portfolio of creations including the YearnFinance Defi platforms, PowerPool, Cream V2, and others. He served as a technical project advisor before becoming the Fantom Foundation Chairman.
This Defi mastermind and architect returned with a buzz, which increased the value of the Fantom Token; a token connected to his influence and ownership.
Andre Conji however made his first appearance through a medium article in which he addressed the market state and several variables that culminated in the crash in one way or another. Rumors about his reappearance began to circulate as a result of that piece. With this article, he not only discussed the state of the market, but he also addressed the necessity for regulation in the crypto space.
State of His Tokens After Departure
Given his absence for so long, his reappearance focused the market on his token, the Fantom token. His disappearance had a substantial impact on the FTM token, which fell in value during that time period. Other coins connected to him also suffered a steep decline.
Fantom’s market capitalization dropped by $3.62 billion after he went MIA, with FTM now trading at $0.3.
Even without the mastermind, FTM has performed admirably well in the face of tokenomics in recent months, with the team burning some supply and returning Gitcoin grants to contributors.
With the wave of his return came a slight rate of pick up in these tokens; YFI, KTM, and KP3R saw an upward jerk in their market prices.