Bithumb Hit by Unprecedented USDC Flash Spike: A Single Investor’s Massive Order Upends Market

On November 25th, the cryptocurrency exchange Bithumb experienced a dramatic USDC price spike that left the market reeling. A single investor’s massive order of nearly $957,000 executed between 1:00 am and 1:10 am UTC caused a surge in the stablecoin’s value, temporarily pushing the price to an unprecedented level of over $4.43 per token before returning to normal levels within minutes. 1:00 am UTC. This event exposed how even stablecoins can experience sudden price fluctuations in volatile market conditions.