Margin trading platform BitMax suffered a flash crash today with Ethereum prices fell to a low of just $0.33 cents.

It has been said that low volume is to blame for the crash and the liquidity has been blamed.

It's not clear yet how the clients of the firm have been affected as it is still early days.

It has been said the absence of error bands and natural order book liquidity led to whales allegedly manipulating the prices of top coins like Bitcoin and Ethereum. Ethereum prices fell to as low as 33 cents, while Bitcoin prices dropped to a low of $8,500. 

Updates to follow...

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin: Is this just a small blip?

Bitcoin is moving lower on Friday but it has found some short term support. The BTC/USD found support at the 2.00 Fib extension level close to 8,500. On the topside, the area to watch for resistance is marked in red. This red zone has been used as support and resistance in the past and if broken could indicate the move lower was just a blip.

More Bitcoin News

ETH/USD deadly weekly evening star followed up with another bearish candle

Ethereum price is trading in the red by 3.30% in the session on Friday. ETH/USD is running towards a complete reversal of 2020 gains. 

More Ethereum News

XRP/USD is stuck in the middle of a very congested area

Ripple trades 2% lower in another down day for cryptos. The price is now between 3 key support and resistance zones.

More Ripple News

TRX/USD looks to base out on the hourly chart

TRON bounced back on Friday despite weakness in the major coins. The price now seems to be trying to find a base.

More Tron News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast

BTC

ETH

XRP