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Data shows institutional demand for Ethereum surged despite the recent crash

Data shows institutional demand for Ethereum surged despite the recent crash

Ethereum (ETH) saw one of the most severe flash crashes that it has seen since the beginning of the year.

The second-largest cryptocurrency by market capitalization saw its market value plunge by 18% within a few hours, shedding over 400 points.  Its price went from hovering at a high of $2,319 to a two-week low of $1,900.  The incident seems correlated with a coal and gas accident in Xinjiang, China, which caused a power outage.

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