SUI - Why Altcoins Were Getting Mashed on Monday
2024-04-29 19:43:22 ET
Not for the first time, no news meant bad news for -- or at least a lack of interest in -- a great many altcoins on the crypto market Monday. While these declines weren't worrying, they did leech value from more than a few crypto portfolios.
Formerly high-flying altcoins The Sandbox (CRYPTO: SAND) , Sui (CRYPTO: SUI) , and Axie Infinity (CRYPTO: AXS) were all down by around 6% in late afternoon trading. More precipitous falls were being recorded by Stacks (CRYPTO: STX) and Maker (CRYPTO: MKR) , which were off by a respective 7% and 10%.
It's not that any of those cryptos were socked with bad news. Rather, it's the lack of any notably positive items that's inspiring folks to sell out of them.
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Why Altcoins Were Getting Mashed on Monday