KP3R, the native offering of Andre Cronje’s latest project, recorded a massive surge just hours after its launch

Andre Cronje is well known in the decentralised finance sector for having founded Yearn Finance. The surge is indeed positive news for Cronje, whose last project Eminence suffered an attack, losing about $7 million in the process. Last week, the KP3R token brought losses to some investors who rushed to get in on the project when Cronje shared it on GitHub.

The token has, however, skyrocketed this week just hours after its launch as degen farmers seemingly load up. The Keep3r Network is essentially a marketplace for technical jobs. It makes use of smart contracts and its native token is called KP3R.

Following the token’s launch, degen farmers and traders alike jumped in on it too, making prices rise to over $180.

Prior to the upward momentum, the token was trading at about $10 per token on Unsiwap. The resulting momentum caused a surge of about 2,000% hours after its launch. The offering currently has a market cap exceeding $35 million according to CoinGecko.

The token’s price as of writing is around $175 —  a staggering swell considering that the price was $10 not long ago. Investors should be extremely careful when dealing with the token, as its prices could slump anytime, which has been a common occurrence in many token launches lately.

The surge was observed and reported by several members of the crypto community, Ethhub’s co-founder Anthony Sassano noted the activity saying.” Andre Cronje: launches new project with a token. Literally every degen trader in crypto <Gorilla emojis>..(yes, that is the 5 minute chart)”.

There were comments from other members saying that a quick exit would earn Cronje an overwhelming profit. However, Cronje maintains the stance that his intentions are only constructive. Previously, Cronje proclaimed that his goal was to help developers use his generated templates to develop new products.