The KP3R token, native to Andre Cronje's new Keep3r Network, surged from $10 to over $180 within hours of launch — a surge of about 2,000% that brought degen traders and speculators into the offering.
The KP3R token, native to Andre Cronje's new Keep3r Network, surged from $10 to over $180 within hours of launch — a surge of about 2,000% that brought degen traders and speculators into the offering.
Keep3r Network operates as a decentralized marketplace for technical jobs, powered by smart contracts. Investors lost money on last week's launch. This week brought intense buying, with the token climbing from about $10 on Uniswap to $175 and higher.
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Cronje built his reputation founding Yearn Finance, one of the sector's more prominent projects. His track record has been uneven. Eminence, his previous effort, suffered an exploit that destroyed about $7 million. Despite this, KP3R's momentum attracted buyers across the space. CoinGecko recorded a market cap above $35 million.
The movement caught the attention of traders and observers. Ethhub co-founder Anthony Sassano posted: "Andre Cronje: launches new project with a token. Literally every degen trader in crypto <Gorilla emojis>..(yes, that is the 5 minute chart)". Other traders noted that Cronje could exit his position for an enormous profit.
Cronje has said his goal is to help developers use his templates to create new products. He maintains his intentions are constructive.
New token launches have followed a consistent pattern in recent weeks: rapid spikes followed by crashes. Traders who buy after the initial surge often face losses. KP3R presents the same risks.
MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.
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