The newest DeFi coin offering by Yearn Finance founder Cronje has gushed within hours of launch. A recently rolled out token by Yearn Finance founder Andre Cronje has climbed sharply within hours of launch as degen farmers load up.
The new token dubbed KP3R is related to Cronje’s latest project called Keep3r Network which is a decentralized gig-style, smart contract powered marketplace for technical jobs.
Within hours of the coin’s launch, traders and yield farmers jumped upon it leading to a sudden gush in prices, topping out at over $381.27 yesterday, as per Uniswap.info.
It is to be noted that the token started trading on Uniswap at around ten USD per coin. Nonetheless, the impetus soon picked up sending it rolling almost two thousand percent within hours. As per crypto data website Coingecko, the new token already has a market capitalization of over thirty-seven million USD.
At press time, the KP3R token was trading at around 195 USD, a colossal gain since launch. However, individuals should note it is an extremely risky bet which might result in a dump and subsequent loss to the partakers as has occurred with numerous new DeFi projects and their associated token launches this year.
What do you think about the latest DeFi offering by the much known Defi developer? Let us know in the comments below!