CREAM Token: 44.50% Daily Surge & Future Potential
Quick Overview
Cream (CREAM) is a utility and governance token for Cream Finance, a DeFi platform on Ethereum and Binance Smart Chain.
The price is $81.85, up 44.50% in 24 hours, with a market cap of $63.18M and a 24-hour trading volume of $92.58M.
ATH was $374.10 in February 2021, and ATL was $6.45 in November 2022. Current price marks a 1173.8% increase from ATL.
Significant events include integration with Yearn.Finance and the introduction of “Iron Bank,” enhancing its DeFi utility.
Cream (CREAM) token represents an integral part of the Cream Finance ecosystem, a decentralised lending protocol and decentralised exchange (Cream Swap) operating on Ethereum and Binance Smart Chain (BSC). Founded in July 2020 by Jeffrey Huang, Cream Finance offers innovative financial services, allowing lenders to earn interest by providing liquidity while borrowers can secure loans using their crypto assets as collateral. The CREAM token functions not only as a utility token but also as a governance token, empowering holders to influence the protocol’s development and operations.
$92.58M Trading Volume: CREAM’s 24-Hour Surge
As of today, the price of CREAM stands at $81.85, marking a significant increase of 44.50% in the past 24 hours. The token has experienced a trading volume surge, with $92,580,757.69 exchanged in the last 24 hours. This sharp price rise underscores the token’s volatility and high investor interest. The circulating supply of CREAM is 770,000 tokens, leading to a market capitalisation of $63,176,653. CREAM’s price performance over the past week has been particularly notable, with an 85.25% increase, highlighting a robust upward momentum.
313.5% Yearly Surge: CREAM’s Long-Term Growth
The historical price data of CREAM reveals a dynamic and fluctuating trajectory. The token’s all-time high (ATH) was $374.10, which it achieved on 4th February 2021. Since then, it has decreased by 78.0%. Conversely, its all-time low (ATL) was recorded on 9th November 2022, at $6.45. Remarkably, this low shows a 1173.8% increase to its current price. Additionally, the price ranges within the last 24 hours and 7 days have been $56.55 – $92.91 and $42.15 – $91.98, respectively. This demonstrates substantial volatility within short timeframes. Over the past year, CREAM has surged by 313.5%. This indicates strong long-term growth despite short-term fluctuations.
Iron Bank Launch Enhances CREAM’s Utility
Several market trends and events have significantly influenced CREAM’s performance. Notably, the token’s inclusion in Yearn.Finance’s (YFI) merger and acquisition spree in November 2020 played a crucial role in boosting its visibility and integration within the DeFi space. Additionally, the announcement of the zero-collateralised lending service “Iron Bank” on 14th January 2021 further expanded CREAM’s utility and appeal. These strategic developments have positioned CREAM as a formidable player in the decentralised finance sector.
CREAM vs. Global Crypto Market: A 85.25% Surge
When compared to the broader cryptocurrency market, the token has demonstrated superior performance. Over the past week, its price increase of 85.25% has outpaced the global cryptocurrency market, which saw a modest rise of 5.30%. This outperformance is indicative of the token’s strong market position and the growing confidence among investors. Popular exchanges facilitating CREAM trading include BingX, Binance, and MEXC, with BingX reporting an active trading volume of $2,374,351 for the CREAM/USDT pair in the last 24 hours.
Bullish Trend: CREAM Eyes $100 Resistance Level
The technical analysis of CREAM suggests a bullish trend, given its recent price movements and volume spikes. The token’s price range in the past 24 hours ($56.55 – $92.91) and the 7-day range ($42.15 – $91.98) reflect heightened trading activity and investor interest. With a current rank of 594 by market cap, the token has substantial room for growth. It is priced at 0.001226 BTC (45.3%) and 0.02642 ETH (44.8%), making it relatively affordable compared to major cryptocurrencies. If the current upward trend continues, CREAM could test new resistance levels, potentially reaching the $100 mark in the near term.
Total Value Locked at $1.24M: The Token’s Growth Potential
Looking ahead, CREAM’s future appears promising, bolstered by its innovative offerings and strategic developments within the DeFi space. The fully diluted valuation of $741,766,407 and the total value locked (TVL) of $1,236,843 underscore its significant market potential. The total and max supply of CREAM tokens are capped at 9,000,000, ensuring a controlled supply that can drive up demand and price. If the DeFi sector continues to grow and attract new users, it is well-positioned to capitalise on this trend and achieve further price appreciation.
CREAM’s Resilience & Growth in Volatile Market
The token has exhibited remarkable growth and resilience in the volatile cryptocurrency market. Its robust price performance, strategic partnerships, and innovative financial products have cemented its position as a leading DeFi token. While the token’s price has seen significant fluctuations, its long-term growth trajectory remains positive. Investors and stakeholders should closely monitor market trends and developments to make informed decisions regarding CREAM. As the DeFi sector continues to evolve, its unique value proposition and strong market presence will likely drive its future success.
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