Why Altcoins Plunged Double-Digits Today
The crypto market sell-off continues on Tuesday as investors continue to see more risk in tokens. Bitcoin and Ethereum are facing pressure from their own internal problems like higher fees and transaction congestion. But the macro environment hasn't helped either.
On the altcoin side of the market, Fantom (CRYPTO: FTM) is down 15.4% in the last 24 hours as of 2 p.m. ET, Filecoin (CRYPTO: FIL) has dropped 13.1%, and Internet Computer (CRYPTO: ICP) is down 12.2% in that time.
The last few days have seen Bitcoin transfers cut off twice at Binance and transaction fees soar. That's caused a lot of investors to question whether there is an unknown risk at the exchange or whether we're seeing flaws in Bitcoin's scalability given the market congestion.
Source Fool.com
