Hey All,
We are seeing a severe crypto market crash at the moment. Where the global crypto market cap has come down to less than 1 Trillion i.e. $931.22B, which is like a 6.66% decrease over the last trading day. Also as matter of fact the same trend is being observed for the financial markets as well; where Dow Jones slipped -543.54 close to -1.66% and today morning the Asian markets opened in Red; SENSEX is down -703.06 points close to -1.18%.
Huobi token saw a 90% flash crash
There was one another incident noticed where the Huobi exchange token $HT collapsed by 90% during Thursday trading session. See the above graph spike the $HT token came down from trading close to $5 to less than a dollar. There was a recovery made and currently the $HT token is trading near $4 mark.
The decline led to over $200,000,000 of market cap gone from HT within an hour, only to recover by over 1000% minutes after.
Interesting to note that $HT token decline led to $200 Mil market cap eroded within a hours time and then a recovery of over 1000% in couple of minutes. People who would have placed low orders would have gained in this extreme decline of $HT token. With this flash crash $HT was about to break its all time low price of $0.8 cents and it was almost there. Reading over the net there are certain theories being associated to this Flash crash of $huobi tokens and one such theory is from - Kaiko claims high sales
According to a tweet by a Kaiko researcher, sales worth $2 million were reported in the five minutes leading up to the crash, which is significantly higher than the usual $600,000 buys on the HT-USDT pair. Despite a 24% decline over the past 24 hours, the token has rebounded and is currently trading at $3.70 on Huobi.
Anyways, I guess this incident is another factor associated to the entire crypto market crash today along with Silvergate Shutdown adding to it. Its a good opportunity for dollar cost average your favorite crypto coins. Speaking for myself, I have more interest in the $HIVE token so if $HIVE breaks $0.2 mark then I would be DCA it and the plan it to buy a good chunk of $HIVE tokens and powerup them all. Hopefully time will tell if we are going to see further crypto crash more blood baths to follow or this is it and we see the recovery of the markets from here... hopefully this should be the case...Good for Everyone.. we all love markets to be in GREEN.. cheers
Have Your Say...
Did you observe this Huobi Token Flash Crashes? Market crash is bad - what is your strategy during this time? Did you buy $HT token at all time low? Would love to hear your thoughts around it in the comment box below? Cheers
Crypto Market Crash - Dump $70 Billion as Huobi Token Flash Crashes
#crypto #cryptomarket #cryptomarketcrash # #huobi #marketcrash #markets
Image Credits:: twitter, coinmarketcap
Best Regards