Fantom

<a href="https://www.blockhead.co/2023/01/27/fantom-jumps-65-following-axelar-announcement/blockhead.co/tag/fantom" rel="noopener noreferrer nofollow">Fantom</a>&#39;s FTM has jumped 65% over the past week following news that Axelar will bring cross-chain swaps to the platform.FTM reached highs of US$0.49 earlier this week, adding to its ongoing rally, accounting for a 145% increase since the start of the year.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/d187072cb16a43a08ebde2ae5b801b16.png" />Fantom&#39;s most recent spike is attributed to an announcement that Axelar will offer interchain communication via Fantom.Described by the <a href="https://axelar.network/blog/an-introduction-to-the-axelar-network" rel="noopener noreferrer nofollow">Axelar team</a> as &#34;the Stripe for Web3&#34;, Axelar network is a blockchain that connects blockchains, facilitating web3 interoperability. Proof-of-stake is used to secure the network.In a statement published on its <a href="https://fantom.foundation/blog/axelar-brings-cross-chain-swaps-to-fantom/" rel="noopener noreferrer nofollow">blog</a>, Fantom said, &#34;Axelar is a network that unlocks this potential by connecting 30 chains, including Fantom, to offer cross-chain communication. It brings secure, decentralized interoperability to every connected chain.&#34;Axelar&#39;s integration with Fantom uses General Message Passing (GMP) for a &#34;seamless user experience&#34; that allows developers to call contracts on any Axelar-connected chain.Developers can thus build DeFi apps that use NFTs minted on another chain as collateral without needing to move the asset across different chains.The integration Fantom&#39;s SpookySwap will also facilitate one-click cross-chain swaps.<h2 id="header-0">&#34;No announcement&#34;</h2>Fantom&#39;s Axelar news comes just days after Fantom founder <a href="https://www.blockhead.co/2023/01/27/fantom-jumps-65-following-axelar-announcement/blockhead.co/tag/andre-cronje" rel="noopener noreferrer nofollow">Andre Cronje</a> tweeted that there will be &#34;no announcements or reveals.&#34;&#34;Expectation management is important,&#34; Cronje tweeted on Monday. &#34;I want to stress THERE WILL BE NO ANNOUNCEMENTS OR REVEALS. No, this isn&#39;t reverse psychology, I&#39;m serious, we aren&#39;t focused on announcements anymore, we simply discuss progress.&#34;Cronje has held a &#34;no announcement&#34; stance since December last year but reiterated it a few days ago.Nonetheless, the Axelar announcement clearly went down well with the Fantom crowd, despite Cronje warning &#34;don&#39;t expect any hype&#34; in a previous tweet.It&#39;s not clear why Cronje is downplaying the hype, especially considering he revealed Fantom has 30 years of funds in November 2022.Read more: <a href="https://www.blockhead.co/2022/11/28/andre-cronje-reveals-fantom-financials-has-30-years-of-funds/" rel="noopener noreferrer nofollow">Andre Cronje Reveals Fantom Financials, Has 30 Years of Funds</a>Cronje is regarded as integral to the success of Fantom. Described as a “prolific coder and legendary DeFi founder” by <a href="https://cryptobriefing.com/what-are-andre-cronje-and-daniele-sestagalli-building-on-fantom/" rel="noopener noreferrer nofollow">Crypto Briefing</a>, Cronje’s credentials include founding Yearn.Finance, DeFi architect behind curve.finance, and a number of other prominent DeFi projects.Read more: <a href="https://www.blockhead.co/2022/11/07/andre-cronje-supposedly-returns-to-fantom-ftm-pumps-34/" rel="noopener noreferrer nofollow">Andre Cronje Supposedly Returns to Fantom, FTM Pumps 34%</a>His departure from the project in March 2022 caused FTM&#39;s price to plummet, only for it to surge when he returned to Fantom a few months later.Image: Tandem X Visuals on UnsplashFor more insights, visit <a href="www.blockhead.co" rel="noopener noreferrer nofollow">blockhead.co</a>.

Cronje Says "No Announcement," So What's Behind the FTM Surge?

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