Machi Big Brother Stakes Back $3.8M CREAM Upon Receipt Amid 82% Surge
- CREAM token price surged 82% in the last 24 hours.
- Cream Finance unlocked $4.27M CREAM tokens to 19 addresses in response.
- Machi Big Brother stakes back $3.8M CREAM upon receiving them.
In a recent tweet shared by on-chain resource Spot On Chain, it was reported that the CREAM token experienced a remarkable surge in price, skyrocketing by an impressive 82% within a single day.
In response to this significant price surge, Cream Finance executed a noteworthy transaction by unstaking a substantial amount of 241,415 CREAM tokens, which equates to a staggering $4.27 million. These tokens were distributed across 19 different wallet addresses.
Spot On Chain highlighted that the Taiwanese celebrity Jeffrey Huang, otherwise called “Machi Big Brother” in the crypto ecosystem, was among the recipients. Specifically, it mentioned Machi Big Brother emerged as the largest beneficiary, receiving 215,236 CREAM tokens valued at $3.8 million.
What makes this transaction even more intriguing is that Machi Big Brother subsequently staked all received tokens, showcasing a strong vote of confidence in the project. The report indicated that Machi Big Brother is staking back the coins for four years.
Meanwhile, the tweet also highlighted the activities of 13 other wallet addresses. Per the update, the wallets purportedly sold 5,409 CREAM tokens, amounting to approximately $99.2K in value.
These sales were conducted through various crypto trading platforms. The mentioned platforms include the largest crypto exchange, Binance, and Gate.io. It also indicated that some of the sales took place on unnamed decentralized exchanges (DEXs).
This surge in CREAM token prices, coupled with the substantial movements of tokens within the Cream Finance ecosystem, has piqued the interest of crypto enthusiasts and investors, who closely monitor these developments for potential market impacts and further price fluctuations.
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