An Ambitious Statement from the Fantom (FTM) Architect! That’s the Reason for the Rise!
With the uncertainties that have been experienced in the markets for some time, an altcoin has attracted the attention of investors with its price increase performance in the crypto money markets. What is the reason for the price increase in Phantom (FTM), which has left behind many crypto currency giants?
Partnership Initiatives to Fantom
Andre Cronje, a prolific developer in the field of decentralized finance (DeFi) and the “architect” of the Phantom Foundation, suggested that the cryptocurrency project could continue for 30 years without having to sell a single FTM token. In a blog post, Andre Cronje explained the details of the financial situation of the project, along with the timeline of its development since 2018. According to the expert by name, the Phantom Foundation has turned down numerous partnership offers, including Alameda Research, an arm of the now bankrupt cryptocurrency exchange FTX. Andre Cronje made the following statements in his statements:
On January 5, 2022, Alameda wants more cooperation, we are passing. On January 14, 2022, a stock exchange asks us for $300,000,000 for a listing, we turn it down. In October 2022, an NFT exchange asks us for $100,000,000 for a partnership, we do not accept. I should also note that our project can continue for 30 years without selling a single token!
We Will Operate for 30 Years!
Andre Cronje, the leading name of the cryptocurrency project, said that they own most of the tokens of the Layer 1 project and earn income by selling them, while Phantom had only 3% of the supply at launch and 14% at the time of writing. Andre Cronje continued his assertive comments in his speech, saying:
Apart from Ethereum, Phantom is the oldest Layer 1 project with a real TVL. we have been operating for more than 4 years and we plan to continue operating for at least another 30 years. We have a proven track record of technological advancements and delivery.
Following the blog post, FTM jumped from the December range of $0.17 to about $0.24 in less than two days with a gain of 41%, becoming one of the best performers in the cryptocurrency markets.
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