One of the main flaws of decentralized finance (decentralized finance) has been the security of digital assets in its vault.this decentralized finance The industry has been a constant target for cybercriminals, who have often succeeded in stealing millions in cryptocurrencies.
An update to Wormhole, one of the largest bridges between Solana and other blockchains, shows that the damage caused by the hack made it a second largest decentralized finance record on file. As a result, Solana (SOL) continued to fall.
on the bright side decentralized financeanalysts predict possible use cases sparkcombined with the momentum it is building, could make the project a top 100 cryptocurrency within its first year of launch.
Solana (SOL) Stock Drops 8% as Wormhole Hack Hits $320M
The price of Solana (SOL) fell 8% in the last 24 hours as reports indicated that the wormhole hacker lost more than $320 million – now a second largest decentralized finance record on file.
The attack on Wormhole began with the hacker’s Solana account.After the attack, the hacker then swapped the SOL in his account for dollar currency (Wormhole USDC), then bring it to Ethereum to transfer funds.
Solana (SOL) losses were exacerbated by a market-wide sell-off, with the global cryptocurrency market cap losing 3% in just 24 hours. Despite today’s loss of more than $110, Solana (SOL) is now trading at $23.
If Solana (SOL) fails to hold the $23 level, the asset’s price could drop to $20. However, if it manages to find enough bullish momentum in the coming days, Solana (SOL) could retest the $25 level.
Analyst Forecast Top 100 spark
Although the broader cryptocurrency market is affected by bearish sentiment at the momentanalyst forecast spark As an alternative investment platform, it has been gaining market position and could outperform the market and break into the top 100 within a year of launch.
Analysts are bullish on the outlook spark Thanks to its unique problem-solving platform, the platform will enable users to buy rare and precious metals such as silver, gold, and platinum as fractional NFTs, meaning you don’t need to buy a whole bar to own gold.
Users do not need to worry about possible wormhole events because smart contracts and reserves spark already Audited Worldwide internet network. according to sparkwhite paperall NFTs minted on the platform will be backed by physical assets, further enhancing trust in the platform project
In addition, current liquidity and reserves spark Will be locked for 100 years. sparkNow I am at pre-sale $0.015.Here’s why analysts predict when sparkLaunched, it could outperform the entire cryptocurrency market.
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