The price for Ethereum has fallen within ten seconds from over 300 US dollars to ten dollar cents on Wednesday evening.
Ethereum, next to Bitcoin probably the most famous and most important crypto diet, recorded a flash crash on Wednesday evening. The price for an Ethereum fell by 22:30 within a few seconds from over 300 US dollars to a value of ten dollar cents. The course recovered as quickly as it had fallen. Meanwhile, Ethereum is traded for a similar price as in the past few days (as of 12 am, 22 June 2017: about 330 US dollars).
The Flash Crash occurred on the US platform GDAX, one of the largest trading venues for cryptos. The cause is evidently the sudden sale of Ethereum worth several million dollars. This ensured that the price fell so far that a large number of users triggered a defined stop-loss order. This ensures that shares are sold when the value drops below a certain limit. This caused a domino effect and drove the price further. More than 800 stop-loss orders were executed.
3800 Ethereum for 380 US dollars purchased
The operators of GDAX apologized in a blog entry for the Flash Crash and assured that neither fraud nor technical failure were responsible. They wanted to investigate the incidents further. Numerous GDAX users complain that they lost through the Flash Crash Ethereum worth several thousand dollars. There are also riddles for a user who apparently had a buy order for 3800 Ethereum at the price of 10 dollar cent. This means that this user would have earned Ethereum worth one million US dollars for 380 US dollars.
The Bitcoin News
TheBitcoinNews.com – Bitcoin News source since June 2011 –
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise
Our Social Networks: Facebook Instagram Pinterest Reddit Telegram Twitter Youtube
