• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Market

Andre Cronje reveals how DeFi saved Fantom FTM up 17%

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

[ad_1]

Fantom (FTM) surged far more than 17% following Andre Cronje’s revelation that their Fund has $340 million in assets and in excess of $ten million in yearly revenue.

Related articles

What is DeFi (decentralized finance)?  Discover the potential and risks of decentralized finance

What is DeFi (decentralized finance)? Discover the probable and dangers of decentralized finance

November 24, 2023
Trend Inscription has spread to Fantom and Avalanche, transaction fees have skyrocketed

Trend Inscription has spread to Fantom and Avalanche, transaction costs have skyrocketed

November 23, 2023

Cronje mentioned Fantom is funds optimistic and it is nonetheless scaling.

Cronje says DeFi saved Fantom

Cronje mentioned the Foundation could have been shut down if DeFi hadn’t existed. I mentioned:

“If DeFi didn’t exist, we probably wouldn’t be up and running today. I believe the same is true of many companies out there.”

In a site on November 28 parcelAndre Cronje says Fantom has in excess of 450 million FTM tokens ($96.43 million), $one hundred million stablecoins, $one hundred million in other crypto assets, and $50 million in non-assets electronic revenue.

The renowned founder comprehensive how the task grew to its recent state immediately after raising $forty million in 2018. He exposed that Fantom paid in excess of $three million in listing costs to exchanges. discounts and in excess of $500,000 for influencers in the early days. But immediately after all the first expenditures, its spending budget was much less than $five million.

This led to the choice to by no means pay out interchange or funding costs yet again, and it started cutting prices till its investing was under $500,000 a 12 months.

How DeFi saved Fantom

In February 2020, the organization left assets really worth about $four million and started to engage in DeFi and use the revenue to obtain FTM. The intention is to maximize its flammability so that it can scale.

This led to the launch of COMP. After that, the task started to engage in yield farming and other DeFi efforts, which elevated its spending budget to far more than $39 million.

By 2021, the task has in excess of $51 million in money and $two million in yearly income. It also offered FTM tokens to Alameda and Blocktower to create far more coins and scale. Treasuries in September 2021 hit $263 million without having FTM.

FTM and connected tokens spike

Andre Cronje’s revelation produced FTM one particular of the very best executing digital assets of the previous 24 hrs.

According to CryptoSlate information, FTM is up in excess of 17% to $.2139 at press time. The Layer one blockchain network digital asset is up 27.five% on metrics in 7 days.

Meanwhile, Coinecko disclosure that other tokens on the Fantom ecosystem, this kind of as SCREAM and GEIST, are up 14.three% and 43.five%, respectively.

DeFillama data also demonstrates that the complete volume of assets locked in Fantom has elevated by three.39% in excess of the previous 24 hrs to $438.45 million.

Read our most recent Market Report



[ad_2]

Tags: AndreCronjeDeFiFantomFTMrevealssaved
Share76Tweet47

Related Posts

Top 3 prominent AI cryptocurrencies in the week of January 4, 2025

by Kishu Inu
January 25, 2025
0

Hive AI (BUZZ), BOTIFY and Freya (FREYA) are the top AI coins this week. BUZZ is up 58% in the...

Top 3 cryptocurrencies AI stand out in January 4, 2025

by Kishu Inu
January 25, 2025
0

Hive AI (Buzz), Botify and Freya (Freya) are the top AI currencies this week. Buzz has increased by 58% in...

The crook attacks the former Brazilian TT account to promote the cryptocurrency

by Kishu Inu
January 24, 2025
0

The hacker has appropriated the social network of Jair Bolsonaro, former Brazilian president, to promote a fake meme coin. As...

The crook attacks the former Brazilian TT account to promote cryptocurrencies

by Kishu Inu
January 24, 2025
0

The hacker has appropriated the social network of Jair Bolsonaro, former Brazilian president, to promote a fake meme coin. As...

Solana price increased by 21%, surpassing Sony in market capitalization

by Kishu Inu
January 24, 2025
0

Solana price (SOL) has increased by 8% in the past 24 hours and 21% in the past week, with market...

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • Singapore’s MAS to Curb Overseas Crypto Activities by 2025
  • Metaplanet Acquires 1,088 Bitcoin, Total Reaches 8,888 BTC
  • Metaplanet Acquires Additional 1,088 Bitcoins
  • Elon Musk Announces Encrypted XChat on X Platform
  • Upcoming $5M+ Token Unlocks for ENA, TAIKO, NEON
  • ETHGlobal Prague 2025 Hackathon Finalists Announced
  • Silk Road Founder Receives $31.4M Bitcoin Donation
  • Paul Krugman Questions Stablecoins’ Utility, Sparks Debate
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7