[ad_1]
Another day, another anomalous cryptocurrency. For a brief moment, the price of Ethereum ETH on Coinbase Pro (formerly known as GDAX) has plummeted from almost $ 100 to $ 13.
The incident occurred around 6:00 UTC. Since then, the price of Ethereum – the third largest cryptocurrency by market capitalization after Bitcoin and Ripple – has returned to its usual trading rate of around $ 97. In fact, it only took a few moments before its value rose from $ 13 to $ 97.
For the record, it seems that the anomaly has only influenced the price of Ethereum on the USDC markets of Coinbase Pro. For those unfamiliar, the USDC is a cryptocurrency in dollars, issued by the giant fintech Circle (with some loans from the mining giant Bitmain).
Shocked traders immediately turned to social media to share screenshots of unusual activity, many left gaping by the occurrence.
Since then Hard Fork has confirmed that the accident took place. Coinbase he still faces the incident on his official channels.
Cryptocurrency, Ethereum and the flash freezes
This is certainly not the first time that the cryptocurrency market has seen such unexpected price collapses, more commonly known as "flash crashes".
Indeed, this is at least the second time that Ethereum has been in the middle of a flash crash.
In 2017, the price of the popular cryptocurrency, co-founded by Vitalik Buterin, has plunged from over $ 300 to just 10¢. As for today's accident, its price has quickly recovered to $ 300.
Hard Fork contacted Coinbase to comment on this bizarre occasion. Unfortunately, no representative was available at the time of writing. As a result, we will update this piece if we feel new.
Additional reporting of Mix
Published on December 6th 2018 at 15:38 UTC
[ad_2]
Source link
