The FTSE (Financial Times Stock Exchange) fell 7%, but ended at negative 3.5%. The Dow lost 600 points. Euro Stoxx 50 dropped 8.5%. The GBP declined eight percent in comparison to the USD.
The reason? Britain has decided to leave the European Union in what was known as “Brexit”. Experts predicted these plunges long before the vote and warns citizens of the consequences.
While these markets may have taken a tumble, the price of Ethereum is one the rise. As the official Brexit verdict was announced, alternative currencies and precious metals, such as Gold surged.
The chart below is listed in USD.
The official announcement came approximately around 8:45pm PST/4:45am GMT. The Ether markets steadily climbed up the charts. Both the ETH value in GBP and EUR reached their peak between 6:15-6:30am GMT at £10.69 and €13.28, respectively. The USD value of ETH peaked at $14.43 around 11:20pm PST.
At the time of writing, Ethereum is listed at $14.09 (3.74% 24hr), £10.21 (12.12% 24hr), and €12.57(5.032% 24hr).