KP3R, the native offering of Andre Cronje’s latest project, registered a huge increase just hours after its launch
Andre Cronje is well known in the decentralized financial sector for having founded Yearn Finance. The increase is in fact positive news for Cronje, whose latest project, Eminence, suffered an attack, losing about $ 7 million in the process. Last week, the KP3R token brought losses for some investors who rushed to participate in the project, when Cronje shared it on GitHub.
The token, however, fired this week, just hours after its launch, while degen farmers apparently carry. Keep3r Network is essentially a market for technical jobs, which uses smart contracts and its native token is called KP3R.
After the token was launched, degen farmers and traders also joined it, making prices rise to more than $ 180.
Prior to the bullish momentum, on the Unsiwap the token was trading at around $ 10 per token. Hours after its launch, the resulting boost caused an increase of about 2,000%. The offer currently has a market value in excess of $ 35 million, according to CoinGecko.
The price of the token, at the time of writing, is around $ 175 – an impressive increase, considering that the price was $ 10 not too long ago. Investors should be extremely careful when dealing with the token, as their prices may drop at any time, which has been a common occurrence in many token launches recently.
The increase was observed and reported by several members of the crypto community. Ethhub co-founder Anthony Sassano, noting the activity, said: “Andre Cronje: launches new project with token. Literally, every trader degen in crypto
There were comments from other members saying that a quick exit would give Cronje a huge profit. However, Cronje maintains that his intentions are only constructive. Previously, Cronje proclaimed that his goal was to help developers use their generated models to develop new products.