Why Solana, Cardano, Polkadot, and Dogecoin All Plunged Today

The cryptocurrency industry is taking a hard hit in trading on Friday, and there doesn't seem to be any end in sight to the sell-off. Every major cryptocurrency has been down double digits at some point today, and some smaller cryptocurrencies, known as altcoins, are down 20% or more.

In the past 24 hours, as of 11 a.m. ET, Solana (CRYPTO: SOL) had fallen as much as 19%, Cardano (CRYPTO: ADA) had dropped 16.4%, Polkadot (CRYPTO: DOT) had tumbled 16.3%, and Dogecoin (CRYPTO: DOGE) was off 11.8%. The altcoins were down 14.5%, 13.5%, 13.2%, and 8.4%, respectively, as I'm writing.

Image source: Getty Images.

Source Fool.com