A flash loan exploit has seen BUNNY price plunge 82% in 24 hours.
PancakeBunny (BUNNY) price soared from $2.82 on 18 November 2020 to an all-time high of $512 on 27 April 2021. As one of the many tokens geared for yield farming, its price skyrocketed amid massive uptake across the decentralised finance (DeFi) industry.
The token’s price has however decreased in recent weeks following widespread selling across the crypto market as Bitcoin’s price tanked. The DeFi token has seen 93% of its value since the peak disappear, with about 82% lost in the past 24 hours after the PancakeBunny team revealed the project had suffered a flash loan attack.
While the attack has dented the market confidence in the token, the assurance that Pancake vaults have not been compromised could be reassuring to the community. As such, many traders keen on the token might view the price crash as an opportunity to buy low.
Where to buy PancakeBunny (BUNNY)
As you cannot directly buy BUNNY on major exchanges and regulated broker platforms, the best way to go about it is to first buy Bitcoin (BTC) or Ethereum (ETH).
Different exchanges and brokers have different account setup requirements, but the overall requirement is to provide details such as your name and email to create an account. The next step is to verify the account and after that deposit funds, which you can quickly use to buy BTC or ETH from a reputable broker like eToro.
Once you buy BTC or ETH here you can use it to buy BUNNY.
Next, go to a platform such as CoinGecko or CoinMarketCap to see exchanges that list the token. Create an account and move your BTC or ETH to the new account to buy BUNNY.
What is Pancake Bunny (BUNNY)?
PancakeBunny is a DeFi yield aggregator for the PancakeSwap (CAKE) ecosystem available on the Binance Smart Chain.
The main objective of the PancakeBunny protocol is to allow users access to ways in which they can optimize their DeFi yield.