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Ripple Drops by 40% at Beaxy

Beaxy, a trading platform, which just entered the market, has temporally halted the services as a response to the mass selling of the XRP coins.

The administration of the platform twitted that investors had been dumping the third biggest digital currency, which resulted in the drop of the asset. The crash was 40% in comparison to the average price.

“We recently experienced unusual high volume activity on XRP-BTC. As a result, and precaution, we are temporarily halting all trading activity and withdrawals across the exchange as we investigate.”

On Tuesday, August 13, the average price of XRP reduced up to $0,298. The market capitalization of the asset decreased to $12,8 billion.

XRP costs 0,000026 in relation to BTC, albeit the asset is 0,00001 BTC at Beaxy.

The administration of the trading platform has not yet identified the users, who started the huge sell-off, but the investigation is on the way. Ripple representatives haven’t commented on the dip.