On September 24, Spot On Chain reported that Cream Finance paid out 241,415 CREAM tokens, price $4.27 million, to 19 completely different addresses within the final 10 hours. Notably, outstanding determine Huang Licheng (referred to as Machi Huge Brother) acquired the lion’s share, acquiring 215,236 CREAM tokens price $3.8 million after which staking them.
Supply: Spot On Chain
Along with Huang’s involvement, 13 different addresses offered 5,409 CREAM tokens, price $99,200, by means of numerous platforms corresponding to Binance, Gate or decentralized exchanges (DEX).
CREAM worth chart. Supply: TradingView
The rise doesn’t point out the potential for sustainable development
Cream Finance, a part of the increasing decentralized finance ecosystem, is positioned as an open-source, permissionless and blockchain-agnostic protocol. It goals to offer entry to monetary companies for establishments, people and different protocols.
Nevertheless, warning is required as short-term worth actions could not point out sustainable development. Moreover, Huang Licheng lately withdrew from a lawsuit involving Detective ZachXBT, which uncovered embezzlement allegations associated to Huang’s previous involvement in crypto tasks. Huang has strongly denied these allegations.
As Cream Finance continues to make waves within the crypto house, buyers are suggested to train warning in response to unstable worth actions and ongoing controversies surrounding key figures like Huang Licheng.
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