Whales, known as investors with a large crypto portfolio, contribute to shaping the market with their investment moves. That’s why other investors want to follow whale movements carefully. According to the information obtained, whales seem to have seized 20 million wrapped tokens and 1.1 million FTM of the popular altcoin Phantom, which has experienced a big drop in recent days. Details are on Kriptokoin.com.
Popular altcoin Phantom
Fantom is one of the first cryptocurrencies to be labeled as the Ethereum killer, along with Cardano (ADA), Solana (SOL), and Avalanche (AVAX). According to WhaleStats data, whales purchased 20 million wrapped Phantom tokens (WFTM) and 1.1 million Phantom tokens in the last hours. Phantom saw shocking moves after some project developers left. Phantom (FTM) fell to $1.31 yesterday (March 7) following negative investor concerns after Yearn.Finance and Keep3r developer Andre Cronje announced that he was leaving the company, along with fellow software architect Anton Nell. At the time of writing, FTM was changing hands at $1,384, up 5.22% on the day. In two separate transactions recorded by popular statistics firm WhaleStats, an FTM whale bought 20,752,988 WFTM, or $27,809.005, while an ETH whale bought 1,179,985 FTM, or $1,581,179 worth of tokens at the current price.
Andre Cronje release
FTM holders can stake their tokens on the network and issue an equivalent amount of sFTM which can then be used as collateral on the Fantom Finance DeFi platform. Andre Cronje is the developer of Yearn. Finance and Keep3r have announced that they are leaving Phantom, along with software architect Anton Nell, according to a Sunday tweet by the latter. Thereafter, the Phantom Foundation sought to allay the concerns of the community by reassuring that the exit of the developers would not have a negative impact on the growth of the project. According to the foundation, Cronje’s contribution to crypto was enormous, but Fantom was not a “one-man team,” implying that the exit of a single developer should in no way derail the project.
Fantom co-founder Anton Nell claimed in a tweet that a total of 25 decentralized finance apps will be discontinued starting April 3rd. Michael Kong, CEO of the Phantom Foundation, explained that this is misinformation: “Many of you are aware, Anton, who works with Andre, tweeted that they are ‘terminating’ 25 projects. This is misunderstood. They ‘end’ their involvement, but hand over everything they run to existing teams.” “The Phantom will be fine,” said Simone Pomposi, CMO of the Phantom Foundation. “Nothing has changed as the market has reacted to the wrong message,” he says.
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