Fantom (FTM) Jumps 13% Higher on Andre Cronje’s Tweet

Fantom (FTM) Jumps 13% Higher on Andre Cronje's Tweet

Altcoins

Fantom’s FTM token is up 12.72% in the last 24 hours and is trading at $0.285 at the time of this writing, per CoinMarketCap data. The FTM token is also recording impressive gains in the last seven days, up 33% on the week.

Since Dec. 30, after the price formed a double bottom near the $0.195 level, FTM has steadily ticked higher. Fantom has since marked 11 green days out of 13, with the price reaching its highest in over a month. An intraday high of $0.293 was reached on Dec. 13 before the FTM price slightly eased.

In a Jan. 13 tweet, Andre Cronje, Fantom cofounder and creator of Yearn.finance and Keep3rV1, makes a compelling case for developers to build on Fantom. He wrote, “Why build on Fantom?” and posted a screenshot highlighting the numerous advantages this might bring.

He highlights Fantom’s legacy, saying “Fantom was the oldest EVM chain after ETH, Fantom has been operating for 4 years with 99.9% uptime.”

The Fantom cofounder discusses some upcoming developments that will benefit builders.

Cronje expects gas subsidies that allow users to onboard without needing FTM to launch between Q2 and Q3 of 2023. Like base-layer account abstraction, which allows wallets to be owned by normal Web2, this might launch between Q3 and Q4 of 2023. Cronje also mentioned gas monetization, which would introduce a new revenue source to Fantom builders by monetizing the volume of transactions generated by their dApps.

Fantom’s governance proposal to bring gas monetization to successful dApps just passed at the start of 2023, as reported by U.Today.

Cronje’s post is a sequel to that made in late December, where he highlighted the goals and priorities for the Fantom ecosystem in 2023. In the December post, he also disclosed that he was formally nominated and thus accepted a position as a member of the Board of Directors for both Fantom Foundation Ltd and Fantom Operations Ltd.

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