Ethereum crash to $13 in Gdax

In yet another instance of just how volatile the cryptocurrency markets can be, the price of ether plummeted to $13 today on cryptocurrency exchange GDAX.

The steep decline, observed at roughly 20:30 UTC, had an outsized effect on the market for the digital token that powers the world's second-largest blockchain. Overall, the value of ether fell to this price after trading at as much as $365.79 earlier in the session, according to GDAX data.

As a result, the flash crash represented a more than 96% decline from the daily high.