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CREAM Price Tumbles Following Rising Supply News
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cryptonews.comThe decentralized lending protocol Cream Finance's native token has fallen off a cliff following the news that the project aims to increase CREAM's supply in order to compensate users affected by the recent hack.
At 9:46 UTC Monday morning, CREAM is trading at USD 50.23 per coin, down by 10.8% over the last 24 hours. It's also down 45.3% in a week and by 86.5% compared to its all-time high of USD 317 recorded earlier this year in February, according to data by CoinGecko.
In late October, Cream Finance was the target of an exploit that drained over USD 130m in funds from the project's coffers. Following the hack, CREAM tanked to USD 111.61, dropping by almost 30%. Prior to that, the project had suffered another attack last August, losing over
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