Avalanche (AVAX) Plunges 16.5% Today: The Cryptocurrency Was Subjected To A Hacker Attack

On September 12, 2021, AVAX, an Avalanche native coin, hit a new all-time high (ATH) of about $64.52. At the time of publishing, AVAX was trading at $51.46 per share, down 15.7% from its all-time high. A similar pattern has been noticed with smart contract currencies such as Cardano, Solana, and Polygon, which have all risen to new ATHs. These ecosystems have been dubbed “Ethereum Killers” owing to their great scalability.Profile: Avalanche (AVAX) The circulating supply of AVAX is 220,286,577 units, with a total supply of 377,752,194 units and a maximum supply of 720,000,000. AVAX has a market capitalization of $12,037,977,850 with its average daily trading volume at $2,443,974,822 according to market analysis. Zabu was hacked. The analytical company DeFi Prime announced on its official Twitter that the DeFi Zabu Finance protocol, based on Avalanche (AVAX), was subjected to a hacker attack, and tokens worth $ 3.2 million were stolen. This is the greatest damage from hacking DeFi based on Avalanche.

Miriam Bozini

Finance and Business Reporter