Crypto market flash crash sees the XRP regain its second position before ETH. What caused the accident?

The crypto market has had a nice week up until then – the bear has crushed hard, squeezing profits from the most important coins and causing a quick flash.

Ethereum [ETH], slipped back to third position after sinking in just one hour. The currency was valued at $ 141.02, with a market capitalization of $ 14.7 billion. The 24-hour ETH trade volume was reported at $ 2.4 billion, a huge drop of over 8.2% in the last 24 hours.

Bitcoin was enjoying a bullish trend after a very long period, but it has now fallen below the $ 4000 line, which was being strongly defended in recent days.

Tron [TRX] rose to the eighth largest coin on the CoinMarketCap list, saw a large decline of 10.66% in the last hour at the time of printing. Tron is not the only coin to deal with the sudden dip. It was followed by Ethereum [ETH], which recorded a decrease of 7.68% and Litecoin [LTC] also down 6.66% in the last hour.

At the time of the press, TRX was priced at $ 0.0305, with a market capitalization of $ 2 billion. The volume of 24-hour currency trading was reported at $ 569 million, up 11.78% on the previous day. The currency recorded an overall growth of 45.92% in the last week.

litecoin [LTC], who exchanged positions with Stellar [XLM], fell 7.67% in the last 24 hours and is still declining. The currency fell by more than 5% in the last hour and overall growth was 11.1% in the last week.

What caused this flash crash?

No major news broke out, nothing relevant to cause such a big move. Thus, it is only an inherent volatility and manipulation of cryptographic markets exposed again. The whales take their profits and prepare the ground for another round of smaller pumps and landfills.