Forex and Crypto News

Beaxy exchange stopped the XRT trade because of collapse by 40%

10:06 13 August /2019

The Beaxy cryptocurrency exchange, which recently launched XRP trading, unexpectedly suspended its work after some users began to aggressively sell XRP tokens.

On Twitter, the administration of the platform announced that investors began to get rid of the third-largest digital asset from August 12, which led to a collapse of its rate by more than 40% compared to the average value of the coin.

The crypto-exchange message says:

As a precaution, we temporarily stop all trading activities until the investigation is completed.

On Tuesday, August 13, the average XRP token rate fell to $0.298. The market capitalization of this digital asset has dropped to $12.8 billion.

xrpusd-13-August.jpg

About Bitcoin, the XRP rate is about 0.000026 BTC, and on the Beaxy platform today it crashed to 0.00001 BTC.

The administration of the trading platform cannot yet identify users who have begun aggressive sales of the asset but have already launched an investigation. Representatives of the company Ripple has not commented on the collapse of its token.

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