Machibigbrother Withdraws $8.52M in CREAM Tokens After 4-Year Staking Period Ends
Machibigbrother (machibigbrother.eth), a prominent DeFi investor, recently withdrew 460,000 CREAM tokens worth $8.52 million USD after the end of a four-year staking period.
This withdrawal comes as the token has experienced a significant decline from its peak during DeFi Summer in 2020.
éşťĺ大ĺĽ(machibigbrother.eth) äş 10 ĺ°ćśĺĺĺşäşč´¨ćźć来 4 ĺš´ç 46 ä¸ć $CREAM ďźäťˇĺź 852 ä¸çžé
ä¸çä¸çĽéďźä¸çĺä¸čˇłďź2020 ĺš´ 9 ć DeFi Summer ĺć $CREAM ćžćéŤćś¨čł $282.4ďźç°äťˇ $18.42ďźďźčżé¨ĺ䝣ĺ¸ĺ¨ĺł°ĺźćśäź°çŽäťˇĺźčžž 1.3 äşżçžéďź
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ĺ°ĺ https://t.co/tDkCBOmiMO pic.twitter.com/w00CvLTNBg
â Ai 姨 (@ai_9684xtpa) September 24, 2024
In September 2020, at the height of DeFiâs explosive growth, CREAM tokens skyrocketed to a peak value of $282.4. At this point, Machibigbrotherâs 460,000 tokens would have been worth an astounding $130 million.
A year later, in 2021, CREAM reached an all-time high of $311, pushing the total value of those staked tokens to $143 million.
However, the market has since taken a sharp downturn. CREAM is now trading at just $18.42, representing a staggering 86.7% decline from its peak. The current value of the tokens withdrawn, while still substantial, is a fraction of what they once were.
Staking Too Expensive
đ User machibigbrother withdrew 460,000 $CREAM tokens from a 4-year staking period, now valued at $8.6 million ($18.40 per token).
⣠What's most interesting is that in 2021, the price reached $311, meaning $143 million was locked in staking. The token is⌠pic.twitter.com/BFdLTojfco
â TSTA | Markets (@tstamarkets) September 24, 2024
Long-term Staking Risks To MonitorÂ
This dramatic fall in value highlights the volatility of the DeFi space and the risks associated with long-term staking. While staking can offer impressive rewards during bull markets, the downturn in token prices can significantly impact the final returns, as evidenced by the sharp drop in CREAMâs value.
The end of Machibigbrotherâs four-year staking period reflects both the boom and bust cycles of DeFi, with once-high values evaporating as market conditions shifted.
It serves as a reminder of the risks inherent in staking during speculative periods, where tokens can experience sharp rises and equally dramatic declines.
Despite the massive reduction in value, the $8.52 million withdrawal still marks a significant return, though far from its former glory.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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