Why Bitcoin, Ethereum, and Solana Are Plunging Again Today

Three of the top five cryptocurrencies in the world, Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Solana (CRYPTO: SOL), each saw dramatic declines, once again, today. These top tokens had sunk by 2.7%, 4.7%, and 4.3%, respectively, over the past 24 hours, as of 9 a.m. ET.

Market-specific drivers, such as the potential for a reduction in monetary stimulus sooner than expected, appears to be the key driver behind the continued selling pressure we've seen among these large-cap cryptocurrencies today. Some token-specific catalysts appear to be at play as well. Solana's recent decline has been tied to slowing transaction speeds as a result of a new non-fungible token (NFT) project launch on Monday.

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Source Fool.com