Why did Olympus Dao crash?

Meanwhile, influencers in the crypto community have leveled accusations against Olympus DAO, branding it as a Ponzi scheme. This allegation adds fuel to the ongoing debate surrounding the legitimacy of algorithmic currency protocols.

The classification of Olympus DAO as a high-risk investment by Delphi Digital, a reputable crypto research firm, further underscores the concerns surrounding the project. Delphi's assessment serves as a cautionary tale for investors to proceed with caution when evaluating such opportunities.

The recent cryptocurrency market downturn has sparked various theories regarding its cause. Chinese journalist Colin Wu postulates that a significant contributor to the price decline was the cascading liquidations initiated by large wallet holders.

In the midst of this uncertainty, established cryptocurrency exchanges like BTCC continue to provide essential services to the market. BTCC, a top exchange, offers a range of offerings to cater to diverse investor needs.

Wu's observation highlights the impact of major players' actions on the volatile cryptocurrency market. Their decisions to liquidate assets can have ripple effects, leading to further price drops as other investors follow suit.