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Data shows institutional demand for Ethereum surged despite the recent crash

Institutional demand for Ethereum seems to be at an all-time high as many high-net-worth individuals appear to have taken advantage of the recent volatility to buy ETH. 

Data shows institutional demand for Ethereum surged despite the recent crash

Cover art/illustration via CryptoSlate

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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