Timeline of the Decline
October 2021
$3.46
All-Time High - Peak euphoria
January 2022
$2.00
Andre Cronje announces departure
March 2022
$0.90
Andre Cronje leaves crypto
Current
$0.35
Post-collapse trading
What Went Wrong
-
Andre Cronje Departure
The departure of DeFi's most famous developer in March 2022 triggered panic selling across the Fantom ecosystem.
-
Multichain Bridge Crisis
Fantom's reliance on Multichain became a liability when Multichain had issues, trapping funds and destroying confidence.
-
Ecosystem Fragility
Too much of Fantom's value proposition was tied to a single developer. When he left, the narrative collapsed.