RATE Group | Two Reasons Why Ethereum Crashed 10% in a Matter of Minutes
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Two Reasons Why Ethereum Crashed 10% in a Matter of Minutes

16 Dec Two Reasons Why Ethereum Crashed 10% in a Matter of Minutes

Posted at 23:05h in Ethereum News by

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The second most popular digital asset by market capitalisation led a crypto industry wide plunge in prices today. Ether (ETH), the native cryptocurrency on the Ethereum network, fell by around 10 percent in just a matter of minutes.

The market wide dump follows a Chainalysis report referenced by Bloomberg earlier today. It claims that PlusToken, a multi-billion-dollar Chinese Ponzi scheme, has been dumping large amounts of various digital assets on the market and that there will be further dumps to come.

Has Bloomberg Freaked Ethereum Investors?

Earlier today, NewsBTC reported on the abrupt Bitcoin market crash that took the price of the leading digital asset by market capitalisation to below $7,000 for the first time in weeks. As mentioned in the report, ETH led the plunge. Trader Hsaka (@HsakaTrades) pointed out that the ETH dip preceded that seen in the Bitcoin market by about two minutes.

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