Article from: NFT Evening
Due to the current bear market conditions, the price of Ether (ETH) has gone down by nearly 20% over the past 24 hours. Valued at around the $1,200 mark, many crypto investors are bracing for an even bigger drop. This has already happened for a short period on the decentralized exchange (DEX) Uniswap. Investors were shocked to discover the price of the popular cryptocurrency dropped to $950 after a whale dumped approximately 65,000 ETH into the market.
By moving such a large amount of crypto, the investor triggered the sub-$1000 drop. Not only that, but the investor only got $1,156 per ETH. They then sold the ETH for dollar-pegged stablecoins. What’s more, the investor had to pay Oasis around $152,000 in fees.
The saga did not stop there. Just a few hours later, the same investor sold yet another 27,947 ETH at $1,181 per ETH. It is safe to say the investor made a significant loss, considering that, according to the Oracle, the cryptocurrency was valued at around $1,335 when they first bought it.
The post ETH Momentarily Drops Below $950 On Uniswap Amidst Crash appeared first on NFT Evening.
source
Article from: NFT Evening
