The price of Ethereum for a short time, fell to $ 237 on a crypto currency exchange Kraken, which is usually daily trading volume is about $20 million.
The crash occurred today approximately 4:59 p.m. London time, and the reason for this sharp decline in prices remains uncertain, as representatives of the exchange had not received official information about any failure.
Therefore, it is likely that the reason for this could be a big order or large order is about 18 000 ETH, on the sale or purchase of cryptocurrency, perfect literally within one minute.
This indicates that on the market someone sold ETH in the amount of approximately $5.2 million at this price and then it went back to normal.
Multiple assumptions remain unanswered
The question remains whether such a price reduction was intentional or occurred as a result of the failure. Nor is it known who was this trader who have committed such an unusual operation. Europe in this period is traditionally just waking up and beginning of the active activities of European traders starts from six in the morning London time, and in the Asian market is about 2am.
Some users suggested that some of their traders, or made too big of a request, or made a mistake in its placement. But after a nine-month bear market, such failures are not surprising.
Over the last few days Ethereum is trying to break through the level of $300, but so far without much success. A hope on the growth of Ethereum, but it is difficult to predict how the situation will develop further events. Remains to believe that the bottom price of the cryptocurrency has already passed and now it’s time for correction. But while the apparent success of growth is not observed.
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Tags: Ethereum Kraken