fUSD stablecoin Release and announcement of Cronje’s return send Fantom (FTM) price higher
After a strong 2,000% spike in early 2021, Fantom's (FTM) price collapsed alongside multiple altcoins and even though the blockchain has an impressive capability, it has yet to get large adoption due to the lack of a compelling use case. FTM price hit an all-time high at $3.46, only to collapse to its pre-bull market lows under $0.25 after the failure of the Solidly DeFi project and the departure of developer Andre Cronje.
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Data from Cointelegraph Markets Pro and TradingView reveals that since dropping to $0.238, FTM has rallied 119.23% to $0.5216 on May 23.
Three reasons for the spike in FTM prices are the release of the first native stablecoin on the Fantom network, new protocol upgrades and collab...