Another possibility is what I call "crypto slosh", and I know for a fact it is happening, but I have no way to measure the degree.
A lot of fiat went into the high end crypto market (the top 20).
When the price of Bitcoin etc. got high, many people took profits, but not in fiat.
Some of that profit got shifted into other cryptos directly to avoid taxes on said profits.
I'm of the belief that the "sloshing" of cryptos in the bathtub of digital currencies has caused some spill-over (instability) in the smaller cryptos.
This may cause some volitility in the short term, but could be beneficial in the long term, as a rising tide lifts all boats.
I think the tide has come in a LOT quicker than expected, but will eventually settle out.
Thats my 2 steem worth!
RE: SBD, What’s going on …