Today has been a pretty rough day for Crypto across almost all markets. While pullbacks are common the one Bitcoin has been going through the last 24 hours was pretty severe. It wasn’t just the market pulling back though. 

Two big DeFi’s were hacked to and they all came from the same blockchain. Due to Ethereums high high gas fees many DeFi applications have been moving to a new blockchain. That block is Binance  Smart Chain and it has been having explosive growth recently with its low transaction fees! 

Both PancakeSwap and Cream Finance were hacked and still might be. This is a huge blow to Binances Blockchain because even with cheap fees no one wants to lose their crypto. It will be interesting to see how these projects deal with the hacks. It’s important for these projects to rebound and make their users while in order for them to continue to grow!