Waves flash crashes to 1 Satoshi on Binance

17 Apr, 2019 | Updated: 18 Apr, 2019
by Will Heasman
Price Action
Waves flash crashes to 1 Satoshi on Binance

Waves ($WAVES) just experienced an almighty flash crash on Binance, plummeting right down to 1 Satoshi before regaining to previous levels in mere minutes.

Waves just witnessed one of the most dramatic flash crashes witnessed in crypto history. The crash appears to be confined to Binance alone, citing sell volume of around $530k at the time.

Chart provided by Tradingview

It's unclear what caused the crash, but one could speculate that it was likely due to a massive sell-off. Regardless of the reason, Twitter was quick to point it out:

One crypto commentator known as Emptybeerbottle, noted that this is why setting extremely low buy orders is a very good idea:

Both Binance and it’s CEO, CZ, are yet to respond to this crash.

This isn’t the first time an altcoin has reported a flash crash. Back in June 2017 Ethereum (ETH) crashed from its then price of $320, all the way down to $0.10 on Coinbase pro in less than a second following a whale dumping 35,000 ETH in one go.

Amazingly, one Twitterati managed to capture on video:

That drop occurred due to the aforementioned massive sale of ETH which in turn triggered multiple stop-loss orders, causing a domino effect.

ETH instantly bounced back to $300, giving some lucky and quick-witted investors instant returns of 300,000%.

One such trader managed to grab 3809 ETH for a mere $0.10 per Ether…

Makes you wonder if anyone managed to get this lucky with Waves…

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Chepicap is now LIVE in Blockfolio! This is how you receive our latest news in your portfolio tracker!  

Poll

Do you set low buy orders?

(17 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage