.  Published  · By KarlVonBahnhof

ETH is selling off...

 

Image: The DAO funds stolen and panic kicks in.

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Image: The DAO funds stolen and panic kicks in.


While this place will not be the first website you will open up today, bloodbath on many cryptomarkets today deserves some clarification.

Earlier on the 17 of June the news started spreading that someone is leeching on The DAO funds and shouldn’t be. While the real DAO holders were most likely still asleep, a massive ETH sell off started. Lisk, DAO and surprisingly BTC dropped too.

Indeed everyone who was awake at the moment went to cash in on the ETHUSD and ETHBTC chop.

That caused the Bitfinex ETH margin funding rates soar. People went off to Poloniex but their servers are not quite ready for this drama, good luck withdrawing your funds. Not even talking about Kraken.

More than usual, be careful about highly leveraged position - it’s mental round here, volatility is high and you might not make it to add margin in time if the market moves against you.

  • Someone rather naive in Poloniex trollbox said “The website is lagging as fuck, is this professional?”.
  • The charting services most of us tend to use are lagging too when the load is too much (cryptowat.ch particlarly). Most altcoin pairs are on tradingview.com these days, go for charts over there.
  • Bitfinex has a scheduled outage today. Subscribe to their Statuspage updates.





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About the author

Written by KarlVonBahnhof

KarlVonBahnhof also on Reddit, Chris belongs to the crypto trader class of 2013. Located in the Americas most of the time, you're most likely to meet at r/BitcoinMarkets though.

Opinions are author's own.