The price of ether plummeted to $13 today on cryptocurrency exchange GDAX.
As a result, the flash crash represented a more than 96% decline from the daily high.
The move was so severe that Coinbase, the US-based operator of the exchange, opted to disable trading of the ETH/USD pair and block withdrawals of ether.
Further, the price of ether suffered this loss amid signs that the ethereum network has been struggling to cope with the demands of its rising use. Data provided by Etherscan reveals that more than 300,000 ether transactions were broadcast on 20th June, an all-time high for the two-year-old network.
Exchange GDAX has disabled ETH-USD trading as it investigates a “flash crash” that happened on the Ethereum market. The issue saw ETH prices suddenly fall from $320 USD to $13.94 and even 10 cents.
The crash happened between 3:30PM and 3:45PM (EST). Prices rebounded before GDAX suspended trading but only to around $300. Just a day earlier, the ETH price had been as high as $380 on the exchange.
For More information refer
http://www.coindesk.com/13-ethereum-ether-prices-plunge-2500-gdax-exchange-flash-crash/
http://www.silverdoctors.com/headlines/finance-news/ethereum-flash-crashes-massive-96/
Coinbase going through major outage
Now come the BEST PART
Assume you got 1000 ETH in this Flash Crash for 10 cents then you haev 300 K in 3 hours
All the best !!
