26 Jun '17, 12pm

Ethereum is crashing by 20% right now after confidence in bitcoin rival shaken

Ethereum is crashing by 20% right now after confidence in bitcoin rival shaken

Bitcoin rival ethereum plunged Monday despite a major exchange's efforts to shore up confidence by announcing a credit for customers who lost money during last week's flash crash. Ethereum , also known as ether, traded 19 percent lower Monday morning, near $245, according to CoinDesk. Last Wednesday, ethereum briefly plunged in a flash crash from above $300 to 10 cents on Coinbase's GDAX exchange. On Friday, the exchange said it would credit customers who "experienced a margin call or stop loss order" on GDAX during the flash crash. Ethereum one-day performance Source: TradingView, Coinbase Ethereum is still up about 5 percent for June, and 2,500 percent for the year, according to CoinDesk data. At its peak, ethereum had surged more than 4,000 percent for the year. In a blog post Monday, digital currency investor and Union Square Ventures partner Fred Wilson said the decli...

Full article: http://www.cnbc.com/2017/06/26/ethereum-drops-more-than-1...

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