Major Coins Fumble Along With FTM, YFI and Other DeFi Projects

  • Andre Cronje has erased any references to DeFi projects on LinkedIn.
  • At $2,514.25, Ethereum (ETH) fell 5.59 percent in the last 24 hours.

It has been announced that decentralized finance (DeFi) project creator Andre Cronje would stop working on them and plans to quit the crypto sector. Due to this decision, Popular DeFi projects like YFI and FANTOM have had their prices altered, and investors are left in a panic state because of the recent update.

The tweet read:

“Andre and I have decided that we are closing the chapter of contributing to the defi/crypto space. There are around ~25 apps and services that we are terminating on 03 April 2022.”

Bears Dominate 

A 4.77 percent drop in the global crypto market value to $1.69 trillion was recorded at 8:59 am on Monday. There was a 28.85 percent surge in worldwide crypto volume to $68.98 billion, according to CoinMarketCap. There was a 4.14 percent drop in the value of Bitcoin (BTC) in the previous 24 hours, trading at $37,830.34 as the price of Bitcoin fell below $40,000 versus the US Dollar. It’s possible that Bitcoin might go as low as $35,000 before the bears have the upper hand.

At $2,514.25, Ethereum (ETH), the second-largest cryptocurrency by market capitalization, fell 5.59 percent. The price of key cryptocurrencies, including Cardano (ADA), Algorand (ALGO), Binance Coin (BNB), Solana (SOL), and Polkadot (DOT), all fell in value, with the latter losing 4.9% to $0.7308 while the former was down 6.32 percent to $0.8097.

Andre Cronje has erased any references to DeFi projects he previously worked on LinkedIn. According to the tweet, the FANTOM Foundation’s senior solutions architect Anton Nell has also made the decision to leave the company.

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