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…