Big movements, which have been frequently seen in altcoin investments lately, are on the agenda once again with the team taking one step forward and investing. Jeffrey Huan and his team, one of the prominent names in the cryptocurrency world, showed their trust in the CREAM token with a serious investment.
Altcoin team staking move led to rally
There was a remarkable movement in the altcoin world today. According to the latest data from Spot On Chain, CREAM price rose sharply today. CreamFinance: Within the scope of 3-Year Staking, 241,415 CREAM tokens (worth 4.27 million) were unstacked in the last 10 hours. These tokens were shared with 19 different addresses.
However, the details behind this activity are even more interesting. 215,236 CREAM ($3.8 million) transferred to Jeffrey Huan’s wallet address was subject to re-staking. This is considered a move that reflects Huan’s confidence in the market and his belief in the CREAM token.
According to Spot On Chain, CREAM token prices rose sharply today, with CreamFinance: 3 Year Staking unstaking 241,415 CREAM ($4.27 million) in the past 10 hours and sending them to 19 addresses. All 215,236 CREAM ($3.8 million) received by Jeffrey Huan’s wallet address have been…
— Wu Blockchain (@WuBlockchain) September 24, 2023
Such large amounts of staking often cause significant fluctuations in the altcoin market. However, in this case, Jeffrey Huan’s staking of the tokens again sends positive messages to the market. Investors and cryptocurrency followers continue to speculate on the CREAM token and the strategy behind this big move. What is certain, however, is that CREAM has gained significant traction and generated positive buzz.
Cream (CREAM) price jumps by double digits
The altcoin price rose a whopping 68% to $19.26 following the above move. The fact that it gained such a great value in just one day created great excitement among investors.
The trading volume of the last 24 hours also revealed how high Cream’s market activity is. But this is not just the story of the last day. Meanwhile, over the past week, CREAM made its investors smile with a price increase of 73.52%.
What is Cream?
Cream Coin is frequently brought up by altcoin enthusiasts. In short, CREAM is a DeFi lending protocol. It is particularly active on Ethereum, Binance Smart Chain and Fantom. It is completely permissionless and open source. Essentially, Cream Finance derives from Compound Finance (COMP). Primarily, it is a crypto exchange and lending platform. It is basically built on the concept of liquidity mining.
CREAM is the main token of Cream Finance. It has a total supply of 2.9 billion tokens. Currently, 616 million tokens are in circulation. Being an ERC-20 based token, altcoin grants special rights to its owners. CREAM owners have the right to vote on the network. They also generate revenue from token swaps made on the DEX.
As Kriptokoin.com, we have included what you need to know about Cream in this article.
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