Ethereum flash crash! Instant millionaires
The Ethereum price crashes suddenly, but rebounds quickly
For reasons which are not yet clear, the Ethereum price almost hit $0.00 this evening, dropping from just under $300 all the way to as low as $0.10!!
Having a look at the picture below, which shows the Ethereum market recently, you will see that buy orders as low as $0.10 were being filled. In this particular screenshot, a user's order for 3800 ETH at $0.10 was filled, meaning he paid $380 for his Ethereum, which, when the Ethereum price recovered minutes later, was worth well over 3000 x more.
This user, whoever he may be, is now a millionaire!
I need to be a millionaire! That doesn't seem very decentralized.
Me too lol! And I know, it's very odd indeed
Feel happy for the few guys who bought low but on the other side there are guys who were trading and probably got the margin call. They probably lost everything. The guy who sold all the Eth probably lost a lot too.
Apparently is was just one seller dumping $30 million worth of ETH in one go, completely destroyed the order book
Wow that is incredible! And incredibly scary for the currency lol
It's crazy, there are gonna be some really happy people tomorrow who are millionaires, and also some really broke people.
Sold my ETH yesterday (well exchanged to Steem). Lucky me