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Flash Crash on Ethereum! On Uniswap, ETH falls below $950 💥
The price of Ethereum has dropped below $950
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- Flash Crash on Ethereum! On Uniswap, ETH falls below $950 💥
- The price of Ethereum has dropped below $950.
Flash Crash on Ethereum! On Uniswap, ETH falls below $950 💥
A temporary tumble in the price of Ethereum (ETH) was recorded on decentralized exchange Uniswap overnight, briefly falling below $950. A huge whale sell on Uniswap overnight caused the price of ETH to drop even further, as the price has already lost 20% of its value over the past day.
source:Uniswap.org
The price of Ethereum has dropped below $950.
Crypto investors and industry watchers were bracing themselves for a historic drop in Ethereum price during the past 24 hours, which saw Ethereum drop by nearly 20 percent over the course of the course of the day.
Last night there was a brief outage on the decentralized exchange Uniswap - albeit for a very short period of time. Upon learning that more than 65,000 ETH had been dumped on the market by a whale, the price of Ethereum plummeted to $950.
There is no doubt that this was noticed on crypto-Twitter, since the price was extremely low compared to the spot rates on other exchanges. In the following example, the price hovered around $1,300 at the time. Fortunately, this was only a short-term flash crash on Uniswap - in the meantime, the price was able to recover in line with the rest of the market.
A short dip in the price of ETH below $1,000 was largely caused by the above-mentioned sell. SushiSwap and Uniswap were both affected by this.
As part of the transaction, the investor sold 65,104 ETH from a vault of the DeFi app Oasis at an average sale price of nearly $1,156 per ETH. ETH worth more than $75 million was sold at this price in total.
