Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
DeFi Issues
Avalanche Blockchain’s Zabu Finance Loses $3.2 Million after Facing a Pool Hack
On September 12, industrial outlet DeFiPrime revealed Zabu Finance faced a hack. The hacker successfully stole 4.5 billion tokens from a Zabu Farm Contract amounting to $3.2 million. The transfer of such a large number of tokens eventually caused the price of Zabu tokens down to $0. Zabu Token has also gone ahead to confirm the hack on Twitter. Moreover, the platform asked for help from other known decentralized exchanges hosted on Avalanche, such as Pangolin and Trader Joe. How…
4 years ago
Critical Problems Facing Decentralized Finance (DeFi) Ecosystems Today
Blockchain technology brought about several new developments, among them, decentralized finance. Although blockchain has continuously thrived in different sectors, its use in finance and DeFi is quite impressive. Thanks to DeFi ecosystems, there are now more decentralized networks and peer-to-peer networks to solve financial banking issues, borrowing and lending, and advanced financial instruments. Despite the notable success of these ecosystems, DeFi is still in its infancy. Therefore, the ecosystems are often plagued with certain risks that hinder their progress. What…
5 years ago