The price of many altcoins rose today as cryptocurrencies moved higher and the broader market jumped. The Dow Jones Industrial Average had risen more than 647 points as of 2:50 p.m. ET and the Nasdaq Composite was up nearly 1.5%.
Over the past 24 hours, the price of Fantom (FTM 7.54%) traded roughly 16% higher, Loopring (LRC 17.85%) jumped roughly 25%, and Aave (AAVE 10.59%) was up roughly 15%.
Some on social media are attributing the rise in Fantom to rumors that Andre Cronje, a well-known developer in the decentralized finance (DeFi) space, might be coming back to the project. In March, Cronje’s colleague Anton Nell announced that he and Cronje were leaving DeFi for no clear reason.
But recently, people have noticed Cronje working on Fantom-related projects on GitHub, a platform for developers. People have also noticed that Cronje’s crypto…