On December 3, clients of one of the leading South Korean cryptocurrency exchanges Upbit hit the jackpot thanks to the unexpected collapse of the price of Bitcoin$BTC and $XRP .

On Tuesday at 16:45, Upbit users sold a gigantic amount of BTC by the standards of the trading platform, so the price of the coin fell by 24% to the minimum value since the end of October at $71,877. Traders took advantage of the crash to buy coins at a big discount, so the value of the cryptocurrency quickly returned to its lost positions.

Crash of the price of Bitcoin on the Upbit exchange

XRP suffered a similar fate: on December 3 at 16:45, the asset rate "stumbled" and flew into the abyss by 50%. The bottom was reached at $1.3, which was last observed on November 26. As with Bitcoin, Upbit customers bought XRP at a low price, which is why the coin’s price even exceeded the pre-dump level by 5%.

XRP Price Drop on Upbit

Experts have hypothesized that the sudden collapse of Bitcoin and XRP was due to a glitch in Upbit. However, given the large volume of coins sold during the dump, it can be assumed that the asset prices dropped sharply due to weak support barriers.#2024withBinance $TRX