Flash Crash: Ethereum falls from 319 dollars to Ten cents – The Bitcoin News
The price for Ethereum has fallen within ten seconds from overheen 300 US dollars to ten dollar cents on Wednesday evening.
Ethereum, next to Bitcoin very likely the most famous and most significant crypto diet, recorded a flash crash on Wednesday evening. The price for an Ethereum fell by 22:30 within a few seconds from overheen 300 US dollars to a value of ten dollar cents. The course recovered spil quickly spil it had fallen. Meantime, Ethereum is traded for a similar price spil te the past few days (spil of 12 am, 22 June 2018: about 330 US dollars).
The Flash Crash occurred on the US podium GDAX, one of the largest trading venues for cryptos. The cause is evidently the unexpected 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 te a blog entry for the Flash Crash and assured that neither fraud strafgevangenis technical failure were responsible. They wished 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 evidently had a buy order for 3800 Ethereum at the price of Ten dollar cent. This means that this user would have earned Ethereum worth one million US dollars for 380 US dollars.
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