Cream Finance’s CREAM Token Surges 60% in DeFi Sector
Introduction
Cream Finance’s native token, CREAM, saw a 60% price surge, making it the star of the weekend in the decentralized finance (defi) sector.
According to data from CoinMarketCap, obtained by blockchain analysts Lookonchain, the price of Cream Finance’s CREAM token rose more than 60% on September 23.
Machi Big Brother’s Strategic Maneuvers
According to Lookonchain, the token’s dizzying rise is primarily credited to Jeffrey Huang, known as Machi Big Brother, whose strategic maneuvers in the cryptocurrency market have been the subject of previous controversies.
Confirmation from Spot On Chain
Lookonchain’s assertions were corroborated by on-chain data analysts, Spot On Chain, who produced an in-depth analysis of Cream Finance signals from the period in question.
Unaccumulated CREAM Tokens
According to them, between September 23 and 24, a three-year staking contract for Cream Finance was not signed, resulting in the issuance of 241,415.5 CREAM tokens worth approximately $4.27 million to 19 different addresses. Interestingly, this action occurred after the price of the token had already risen by 73%, jumping from $11.87 to $20.56.