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Ethereum Flash Crashes By 96% After Status ICO Clogs Network

Ethereum Flash Crashes By 96% After Status ICO Clogs Network

While Bitcoin, and recent Chinese and Korean momentum favorite, Litecoin, have been relatively stable for much of the day, Ethereum suffered dramatic losses on Wednesday, sliding from $360 to $260 before rebounding, in the process experiencing what may have been its first flash crash, when it plunged by 96% from $315 to $13 on massive volume, before rebounding.

 

As tends to happen without fail during volatile crypto-periods, the crash almost immediately took the Coinbase offline.

Nevada Weather Service Warns Of Dam Failure Threat

Update: according to an update posted moments ago by the Nevada Weather Service in Reno, the Flash Flood Warning has been canceled as the water has receded in the Dayton Retention Pond and it is no longer expected to fail.

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Eurozone PMI Jumps To 56, Highest Since April 2011; Job Creation Best In A Decade As Inflation Surges

Eurozone PMI Jumps To 56, Highest Since April 2011; Job Creation Best In A Decade As Inflation Surges

Eurozone private sector and manufacturing growth unexpectedly jumped to the highest in six years in February and job creation reached its fastest since August 2007, propelled by strong demand and optimism about the future, the latest Markit PMI survey found. The Markit Eurozone PMI registered 56.0 in February, up from 54.4 in January , the highest reading since April 2011.

Key Events In The Coming Week: All Eyes On Trump's First Actions

Key Events In The Coming Week: All Eyes On Trump's First Actions

The key economic releases this week are durable goods and GDP on Friday. On the political front, the focus will be is on the first actions of the Trump administration including moves on TPP and NAFTA. There are no scheduled Fed speeches this week.

Arond the globe, the UK Supreme Court decision on Art.50 and the Italian Constitutional Court's decision on the electoral law are on Tuesday. In EM, we have monetary policy meetings in Colombia, Hungary, Turkey, South Africa and Ukraine.

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