Why did Waves crash?

Could you elaborate on the recent crash of the Waves platform? It seems to have occurred unexpectedly, affecting many investors and users. Was it due to a technical malfunction, a sudden shift in market sentiment, or perhaps an issue with the underlying blockchain technology? Did the platform suffer from a lack of liquidity, resulting in a sharp drop in prices? Did external factors, such as regulatory pressures or competition from other cryptocurrencies, contribute to the crash? Understanding the root cause is crucial for investors to make informed decisions in the future.