The summaries of the recent events concerning Cream Finance point to a mixture of gains, losses, and significant challenges. Cream Finance has made some headlines as one among the top crypto gainers as of September 7 and August 28, and its cryptocurrency value has soared with up to 65% increase in a relatively short period. However, the DeFi platform has been a target of several attacks, suffering from its third-largest hack to date, with an estimated loss of $130M. Additionally, it has experienced DNS attacks alongside Pancakeswap.
Despite the setbacks, Cream Finance has shown the potential to double its value with increased demand in the DeFi arena, as argued by some experts. On the other hand, concerns are raised about potential pump and dump schemes following the sharp increase in its price. It is also remarkable to note that Cream Finance has promised to reimburse the stolen funds following the hackers' attack on its protocol, amounting to roughly $462M.
The protocol also unveiled the cross-protocol flash loans, positioning itself as the first DeFi protocol to support Tether EURO. Despite the vulnerability to attacks, Cream Finance continues to make strides in the finance world and is seen to potentially unleash its massive growth potential post-halving.
Cream Finance News Analytics from Mon, 18 Oct 2004 07:00:00 GMT to Sat, 07 Sep 2024 13:54:33 GMT - Rating 0 - Innovation 3 - Information 6 - Rumor -4