Ethereum Price Dropped: Here's Why

The red-hot cryptocurrency Ethereum flash-crashed on Wednesday afternoon but has recouped all its losses within a minutes.

The price of this cryptocurrency dropped to 10 Cents from $319 in a matter of minutes. The entire decline cannot be seen on the chart, as it shows the price in one-minute increments and doesn't display every tick.

Ethereum has snapped back to around its pre-flash-crash level. It's up about 3,601% so far in 2017.

The reason behind this drop is an million Dollar Trade.

• Ethereum briefly suffered a flash crash on the GDAX exchange on Wednesday.
• The price fell from around $319 to 10 cents in a matter of seconds.
• Many ethereum traders lost large sums of money.
• The cryptocurrency later rebounded.