Why are Altcoins Like Sui, Dogecoin, MYX Going Down?
A crypto crash is underway even as the US stock market surged to a record high. Bitcoin and most altcoins, such as Dogecoin (DOGE), Sui (SUI), and MYX Finance (MYX), were among the top laggards.
The market capitalization of all cryptocurrencies plunged to about $4 trillion, down from over $4.1 trillion. This article highlights some of the top reasons why the crypto market is going down.
Why a Crypto Crash is Happening: Options Expiry
The ongoing crypto crash is happening as investors react to a $4.3 billion options expiry on Deribit.
Data shows that Bitcoin options worth about $3.5 billion and Ethereum valued at over $800 million will expire today.
For Bitcoin, the maximum pain was about…
