An influential cryptocurrency analyst and trader says a crypto asset supported by Yearn.finance creator Andre Cronje is gearing up for a rally.
The governance token of the Yearn.finance ecosystem, YFI, is one of the best-performing crypto assets of 2020, recording a staggering 77,095% price rise since its launch just five months ago.
[adinserter block="1"]Since then, crypto traders have had an eye on projects supported by Cronje, dubbing the impact he can have on decentralized finance (DeFi) projects the “Cronje effect.”
According to analyst Josh Rager, one of the coins that has yet to receive a bump from Cronje’s involvement is the lending, borrowing, swap, payment and tokenization services platform Cream (CREAM).
Rager believes it’s only a matter of time before the coin surges.
“Seems pretty clear right here on higher-time frames. [Cream is] the only Andre/Yearn asset that has yet to take off, it’s only a matter of time in my opinion.”
A few weeks ago, Cronje announced a partnership between Yearn.finance and Cream.
He says the two platforms will merge development resources and launch a new zero collateral protocol credit solution.
“Yearn and Cream developers have teamed up to launch Cream v2. The v2 launch will be focused on core lending and leverage products. Cream v2 enables earning yield with leverage, and is a launchpad for future Yearn and Cream collaborative lending products.”
After spiking during the widespread DeFi boom over the summer, CREAM has remained relatively flat. It’s current price is $61.29, down 12.29% in the last 24 hours according to CoinMarketCap.
[adinserter block="1"]Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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