Published On: Sun, Jun 25th, 2017

GDAX To Credit Traders for Ethereum Flash Crash Losses

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GDAX has promised to credit traders for any losses they experienced during the exchange’s Ethereum “flash crash” on June 21, when prices temporarily dropped to as low as $0.10.
Last week, GDAX experienced an Ethereum “flash crash” when a multimillion dollar market sell was placed on their order book. Orders ranging from $317.81 to $224.48 were used to complete the trade, resulting in a recorded 29.4% price drop that quickly triggered a cascade of stop loss orders and margin calls.
The ensuing flood of sell orders temporarily drove down the price of ETH on GDAX to as low at $0.10. GDAX was forced to temporarily halt ETH trading in response to the price movement. The exchange’s ETH price has since recovered and is now trading for just over $300.

GDAX is now offering to credit traders who experienced a margin call or stop loss order executed as a result of the price drop. In a blog post released Friday, GDAX said it would use company funds to restore the value of customers’ ETH-USD accounts to their equivalent value at the moment prior to the rapid price movement.
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Published On: Sun, Jun 25th, 2017

GDAX To Credit Traders for Ethereum Flash Crash Losses

Share This
Tags

GDAX has promised to credit traders for any losses they experienced during the exchange’s Ethereum “flash crash” on June 21, when prices temporarily dropped to as low as $0.10.
Last week, GDAX experienced an Ethereum “flash crash” when a multimillion dollar market sell was placed on their order book. Orders ranging from $317.81 to $224.48 were used to complete the trade, resulting in a recorded 29.4% price drop that quickly triggered a cascade of stop loss orders and margin calls.
The ensuing flood of sell orders temporarily drove down the price of ETH on GDAX to as low at $0.10. GDAX was forced to temporarily halt ETH trading in response to the price movement. The exchange’s ETH price has since recovered and is now trading for just over $300.

GDAX is now offering to credit traders who experienced a margin call or stop loss order executed as a result of the price drop. In a blog post released Friday, GDAX said it would use company funds to restore the value of customers’ ETH-USD accounts to their equivalent value at the moment prior to the rapid price movement.
A Leader Among All …

Read more –> click here all content is copyright Bitcoinist.

Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE..

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  1. ABITCO.IN ABITCO.IN says:

    GDAX To Credit Traders for Ethereum Flash Crash Losses – https://t.co/E8aUkfZUe1 https://t.co/6b4TgNuKbM

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