Ether Down Nearly 12%, Trading at Around $700 Today

Ether (ETH, -11.53percent), the next cryptocurrency that is biggest by market capitalization, at one point exchanged near $700 on cryptocurrency change Kraken during Monday’s massive sell-off.

Amid the marketplace melee that pummeled assets being crypto the board, ether’s prices went as low as $1,546.53. Nonetheless, that true number was a staggeringly low $700 on Kraken.

The ETH/USD set on Kraken dropped to $700 at UTC 14:20 Monday from $1628,82 simply about 3 minutes prior in a one-minute time span.

The drop that is breathtakingn’t relegated to ether. Trading of cardano (ADA, -2.62%) (ADA) suffered a fate that is comparable Kraken, aided by the ADA/USD set slumping to $0.156 at 14:23 UTC from $0.842 3 minutes prior. Throughout the exact same hour, the cost that is lowest of cardano recorded is at $0.835.

“We saw the price tag on some digital assets such as ether and ada have a sharp style that is downward morning on multiple trading venues soon after 14:00 UTC,” a spokesperson from Kraken said in reaction to the uncommonly low prices of ether and ada on the exchange. “Kraken also saw a rise in sell instructions around this time.”