Matic — one of the first tokens to originate upon Binance Launchpad has witnessed one of the harshest dumps in crypto history, falling a massive 66% in the space of an hour. Crypto, Twitter is screaming today. Altcoins left, right, and center are dropping like stones. Still, one cryptocurrency is hurting more than any other, Matic.
Ironically, Matic was on a slow and steady incline in the weeks prior to this, climbing 180% to its price peak. This latest dump has undoubtedly left some investors ruined.
There doesn’t appear to be any fundamental reason for the drop. As such, many have called out the project founders for dumping their tokens on the market. One user highlighted over 1.4 billion Matic tokens, which had been allegedly transferred to Binance in the past few months — an apparent attempt to dump the tokens at the ATH.