Ethereum Wicks As Low as $300 on BitMEX as Crypto Sees Crazy Price Action

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Published Jul 28, 2020

What a day it’s been for the Bitcoin, Ethereum, and crypto markets. After days of consolidation, the leading cryptocurrency surged higher from its sub-$10,000 slumber over the past 48 hours. The asset now trades for $11,000, up around 10% in the past 24 hours alone. Unfortunately, with such market volatility, there have been some mishaps. Just minutes ago, Bitcoin, Ethereum, and many other cryptocurrencies experienced a flash crash. Bitcoin plunged from $11,300 to $10,800 in the span of literal minutes while altcoins followed suit. ETH faltered especially hard during this drop lower. According to one trader, the asset briefly traded at $300 on BitMEX as long positions presumably were stopped out of their positions, leading to a rapid decline. Ethereum has returned to $325 as buyers have stepped back in, only cementing how crazy these market conditions are. Even after this volatility, the asset is up by approximately 35% in the past seven days. Although ETH has been underperforming Bitcoin over the past 24 hours, many remain long-term bullish on the asset due to its fundamentals. Canadian digital asset manager/fund provider 3iQ recently announced that it has filed a prospectus to list an Ethereum fund on the Toronto Stock Exchange:Also positive for the asset is the launch of ETH 2 and growth in the decentralized finance (or “DeFi”) sector.

All data is taken from the source: https://www.newsbtc.com/
Article Link: https://www.newsbtc.com/2020/07/27/ethereum-wicks-under-300-on-bitmex-as-crypto-sees-crazy-price-action/

#asset #stockwatch #redditbitcoinmarkets #cryptocurrencynews #cryptocurrencyexchange #cryptonews #cryptoexchange

Kategorien: ethereum Kryptowährung

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Ethereum Wicks As Low as $300 on BitMEX as Crypto Sees Crazy Price Action

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