Why Dogecoin, XRP, and Polygon Are Plunging Today

·4 min read
Why Dogecoin, XRP, and Polygon Are Plunging Today

Altcoins were undergoing a major correction Monday with big names like Dogecoin (CRYPTO: DOGE), XRP (CRYPTO: XRP), and Polygon (CRYPTO: MATIC) down 11.07%, 12.58%, and 11.28% on heavy volume in the past 24 hours as of 11:45 a.m. EDT. Over the weekend, U.S. regulators said they were investigating Binance, the world's largest cryptocurrency exchange, over allegations that it was exploiting customers via insider trades. On Sunday, European Central Bank President Christine Lagarde delivered a further punch with a warning that described altcoins as "highly speculative" and "suspicious."

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