Ethereum’s price briefly collapsed from $100 to $13 on Coinbase Pro

More from: | The Next Web |
0

Another day, another mad cryptocurrency anomaly. For a brief moment, the price of Ethereum ETH on Coinbase Pro (formerly known as GDAX) collapsed from almost $100 down to a measly $13.

The incident took place at around 6 AM UTC. Since then, the price of Ethereum – the third largest cryptocurrency by market cap after Bitcoin and Ripple – has bounced back to an average trading rate of about $97.

Indeed, it only took moments before its value climbed back from $13 to $97.

For the record, it appears the anomaly solely affected the Ethereum price on Coinbase Pro’s USDC markets. For those unfamiliar, USDC is a dollar-pegged cryptocurrency, issued by fintech giant Circle (with some funding from mining

(...)

Read full article » https://thenextweb.com/hardfork/2018/12/06/coinbase-ethereum-price-collapse/


About | The Next Web |

In 2006, founders Boris and Patrick were looking for a tech event to showcase their new startup. When they couldn’t find one that checked all the boxes they decided to host their own. As they were organizing things, they soon realized they needed somewhere to promote the conference, and that’s how thenextweb.com was launched. It later became a blog and the result is what you are looking at right now.

TNW was started to bring insight, meaning—and every now and again, the lulz—to the world of technology. But we didn’t want to stop there. Today the company has grown from those two parts to four pillars that brought forth TNW News, TNW Deals, TNW Conference and Events, our new tech hub called TQ and Index, our market intelligence platform.

»Twitter: @thenextweb »Facebook: @thenextweb