The post Why Ethereum is Crashing Today? appeared first on Coinpedia Fintech News
The European market opened Monday, April 7, with a similar bearish trend as the Asian market. With a similar choppy trend expected later today after the New York stock exchanges open, the crypto market has fallen in line with a 12 percent decline in its total valuation to about $2.45 trillion at the time of this writing.
Ethereum Bulls Crambles
In the past 24 hours, Ethereum (ETH) price dropped nearly 20 percent to trade at about $1,467 on Monday during the mid-London trading session. The large-cap altcoin, with a fully diluted valuation of about $176 billion, recorded a significant surge in sell orders on different crypto exchanges, led by Binance and Bybit.
Consequently, nearly $400 million was liquidated from Ethereum leveraged market, mostly involving long traders.
Top Reasons Why Ether Crashed Today?
Broader Market Selloff
The CBOE Volatility Index (VIX) recorded a 28 percent surge
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