There’s a Latin maxim that goes like: “quod approbo non reprobo”. The literal translation of the maxim is that “that which I approve, I can not disapprove”.
In layman’s phrases, this implies you can’t blow cold and hot on the similar time.
Properly, this doesn’t occur to be the case for Andre Cronje, who announced his exit from Fantom Basis and the crypto house in March 2022. This announcement led the FTM token to undergo a pointy decline in worth.
Moreover, through a blog post printed in April, titled “The rise and fall of crypto tradition”, Conje reiterated that he harbored no intentions of returning to the crypto house whereas additionally calling for elevated regulatory actions within the crypto house.
As of 21 Could, Andre Cronje was spotted coding for the Fantom Basis stablecoin platform inflicting the FTM token to document an intraday spike of 6% in its value. Up by 16% within the final 24 hours, how has the coin reacted to the information of a attainable comeback by Conje? Let’s discover out…
Andre the Big
Recording gigantic strides within the final 24 hours, the FTM token registered a 16% spike in value following the recognizing of Conje writing some code for the Fantom Basis stablecoin platform.
Standing at $0.4218 on the time of press, the value of the token up to now seven days grew by 13%.
Additional to this, the previous few days have been marked with a bullish bias for the FTM token. On the 37.60 index in an upward development on the time of press, shopping for strain was mounted on the token additional driving the value up. Equally, barely above the 50 impartial area, the MFI indicated elevated accumulation at press time.
This stood at 51.60 on the time of press. The place of the MACD additionally lent credence to the bullish divergence. Sustaining a place under the histogram bars, the MACD line was noticed intersecting the pattern line in an upward curve.
![](https://files.ambcrypto.com/wp-content/uploads/2022/05/22124310/FTMUSD_2022-05-22_08-12-53.png)
Supply: TradingView
All-round Growth on the playing cards?
A consideration of information from the chain revealed that the final 24 hours had been marked with an all-round progress for the FTM token.
Following the information of Andre Conje’s attainable comeback into the crypto house, the index for the variety of distinctive addresses concerned in FTM transactions each day jumped. Standing at 443 on the time of press, the every day energetic addresses on the community jumped by 21%.
![](https://files.ambcrypto.com/wp-content/uploads/2022/05/22125718/Fantom-FTM-08.27.01-22-May-2022.png)
Supply: Santiment
Along with this, the combination quantity of FTM tokens throughout all transactions that occurred on the community every day noticed a spike on 21 Could following the invention of Conje’s exercise. Known as the transaction quantity, this registered a 40% spike.
![](https://files.ambcrypto.com/wp-content/uploads/2022/05/22130126/Fantom-FTM-08.30.22-22-May-2022.png)
Supply: Santiment
The variety of energetic deposits on the community additionally elevated. At 81 energetic deposits on 21 Could, the quantity jumped by 20% and stood at 98 on the time of writing.
![](https://files.ambcrypto.com/wp-content/uploads/2022/05/22130427/Fantom-FTM-08.33.24-22-May-2022.png)
Supply: Santiment
Massive whales additionally made some actions yesterday following Conje’s exercise, leaving the index for the transaction rely for transactions over $1 million with a 300% spike.
As anticipated, on a social entrance, important appreciation was recorded following the information of Conje’s actions. Standing at 0.352 at press time, the social dominance of the FTM token recorded a 20% increment as of 21 Could. Equally, the social quantity additionally witnessed a 12% spike.
![](https://files.ambcrypto.com/wp-content/uploads/2022/05/22131602/Fantom-FTM-08.45.44-22-May-2022.png)
Supply: Santiment