Summary
TLDR: Shiba Inu’s price on Coinbase crashed by 50% due to large sell orders, highlighting market volatility. Coinbase users also faced display issues, but assets were secure. Indian exchanges saw altcoin price drops, emphasizing the importance of maintaining liquidity in crypto exchanges.
Key Points
1. Shiba Inu’s (SHIB) price on the US-based crypto exchange Coinbase crashed by 50% on Tuesday, highlighting the volatility of the cryptocurrency market.
2. The crash was caused by large sell orders that surpassed Coinbase’s liquidity, leading to a rebound in SHIB’s market depth and a surge in spot volumes on the platform.
3. The incident underscores the importance of maintaining adequate liquidity on crypto exchanges to prevent significant price disruptions from large orders.