The 45-Millisecond Ether Flash Crash Prompts Safeguard Effort - Bloomberg

This is why you always have bids in!


Wondering how much (or rather, how little) it takes to really move these markets?

$12.5 Million.

"The crash at 3:30 p.m. New York time on June 21 drove the currency down to 10 cents from $317.81. The cause, White said, was a single $12.5 million trade -- one of the biggest ever -- placed by a customer as a market order, or a request to sell immediately. That pushed ethereum to $224.48, but the pain didn’t end there. The decline triggered sell orders from traders who’d requested to bail on the currency if prices fell to certain levels, and prompted GDAX to liquidate some margin trades." (per story)