One lucky day for an Etherium trader has resulted to an exchange of fortune from merely $380 to about $1,142,700.00 in a matter of few seconds.
On June 22nd price of Etherium on GDAX fluctuated from $0.10 to $300, the reason for this volatility is not what general market trends dictates but to a transaction that brought this very rare occurrence. Here is how it all happened:
The price of Ether was trading on the GDAX currency exchange platform at around $300 2:30 PM EST. Suddenly it dropped to as low as $0.10, it happened because a trader placed a multi-million dollar order to sell Ether.
This send an array of price-triggered "sell" orders as computers sold off Ether in automation. Traders were losing millions of dollars.
But this one lucky trader had an automated placed "buy" order at 3,809 Ether if it dropped to a low price of $0.10.
Within seconds Ether recovered to its market price of around $300. Which means that this 3,809 Ether trader has now its value raised to $1,142,700. The trader had made 300,000% return in such a short time.
This is the first time that a trade with a swing like this had happened . Nothing of this magnitude at least, where an asset lost 99.96% value in just a matter of seconds.
Things happen and may all my readers today have a fortunate circumstance like this happening to their lives soon...
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