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The digital token Matic dropped an amazing 70% in just a single hour on December 10, making this probably the severest drop in crypto (https://www.thecoinrepublic.com/tag/crypto/) history. The token crumbled from $0.042 to $0.012 in a flash leaving traders totally bewildered. The dumped sum is generally $60 million as far as the market top.

This monstrous drop was to some degree sudden in light of the fact that Matic had been performing very well preceding the drop. It was up 180% over a range of about fourteen days before the drop. The emotional drop left the online life stage, Twitter in a craze with individuals scrutinizing the administration or thinking about whether it was an inside activity.

Source: TheCoinRepublic (https://www.thecoinrepublic.com/why-matic-drops-by-a-shocking-70-in-one-hour/)

So explain to me why this is any different than any other shitcoin dev team performing a pump and dump?

This happens here every week for the last 6 or 7 years.

Is this supposed to news or something?

I thought that their team members just dumped the majority of their tokens and it is not the way it works. Matic has good potential, but if they have such greedy people at their wheel, it can likely end very bad for all.

After taking a quick look at their website and features, I can confirm that Matic is another classic example of shitcoin with zero utility and no real world application. The developers came here to make money and probably they are the only responsible people behind this dump! So the made their money and now exited from the market, so should you!

I really don't know why people invest in such projects without any utility which goes down to drain 99.99% of the time! if you look at the features Matic token as mentioned in their website, you will literally find hundreds of similar projects in the market. In future, try to stay away from such projects who doesn't have any product or utility and your money will be saved for better time!

Now all Twitter says that the project team has is not connected with such a fall. for me, all this looks very strange. if the team has no connection with it, then who could make such a sharp collapse? who has such money?

The price will be replaced in one month at the latest. It was a good manipulation. Money winner wins. I just bought more and started to wait.

There was an accusation that the developers unlocked their holdings and dumped on the market, but Binance CEO initially stated that the developers has been absolved of any wrong doing but that the case will be investigated. FOMO is a dangerous thing and should never be tried on new and shitty coins.

I am getting a little worry on Binance CEO, he is looking more like the crypto bad guys. He is getting unserious and lies. With time he will be exposed. It was discovered that the dump was an inside job by 2 members of the team with collusion with the exchange, the token was moved some days back from the team's wallet. CZ did that the cover up early to protect himself at least for a while. I find it hard to believe any side of the story because no one can be trusted here.

Is this really a news or worry? Most coins are behaving like this. Especially people or team are manipulating the price for them to dump it. Then leave the public to the ground or even beyond that.

This kind of thing often happens on exchanges regarding cryptocurrency trading, for speculation there are insiders who play in it too we can't see it. but I think it must be in tandem with investors so that more holders are held in it.

Its become a big thing after the people found out that the supply of this coin increases significantly which creates a rumour that the dev themselves dumping this coin so hard and the dumping is done at the same time and that what causes the uproar regarding the dumping. It's no ordinary dumping and strongly indicates price manipulation as well and that's why investing into altcoins like matic is discouraged the people behind project hold too much token.

It's not a piece of news but it's a dump that has been made by the whale as per the developer said about that but that statement can't be trusted. A few hundred millions matic tokens ent to the binance since a month ago and dumped just in a few seconds. We should give applause to the matic team about how smart they were doing it.
But if you are looking for a trusted coin which was doing a shady thing like this and that only happens with matic token.
you can find another project doing the same thing like this one but they are still thinking about how to keep the price becomes stable.

There are other altcoins that are even dropping higher with that percentage but because it's one popular altcoin, you have to cover the news and report it to everyone because it has gained attention to the people.

It's not that new anymore but things like this, expect it to happen if you're investing to altcoins. Even for bitcoin, huge drops were pretty normal in the past so with this quick dump for Matic it's just shocking but every investor of it should have analyzed this possibility before.

When the pump ends, the dump will definitely come, I guess this always happens on the market, especially for altcoin. In this case it is very clear that matic move fast to go up and a trader must know where he is going next, after the drastic increase, it's definitely dumped harder.

This is inevitable actually. I think many people still not used to it seeing some price to go down very steep even though for quite some time. Yes see btc dumped overnight, expect more on altcoins since these project are still fresh. Matic is good project and nothing can predict what will happened next. Sorry for those who lost but it will only reflect if you sell at a loss.

people complained about how magic price dropped and some have already judge the project to be a very bad one, I don't know what causes the panic that makes whales to dump but I saw it as buying opportunity so quickly I grab few matic, better than investing in coins from low exchange

It is also true that if the pumping is over, the dump will wait for us. The price of altcoin will not be so stable. We should understand that because it has happened normally, many people are surprised in 1 hour that Matic coins plunged so much that many think this problem dumping coins by the foundation .
This coin has dropped 3x if we wait for sure long to get back up.

I can't see having any potential with the fear of team dumping the token value with a flash crash in the future. No matter the tech, investor trust has been tainted by the team by artificially manipulating the price and that's hard to recover from. Hopefully their team at least can find a good use for that money. I am still thinking about shorting it if i find a right price range.

It's how things works inside this market no one really knows what future might bring after you place your investment. The only thing that you can do is to keep moving forward, if you failed to sell after you buy in you should take full responsibility and aimed for what can be the next good thing to try cutting your loses or recover your investment.

If you already know this news, then don't ever enter coins or tokens like this. This is nothing more than a pump and dump game that can lead to shitcoin and scams. I will never waste my time and money on a project like this even though it looks very tempting. My crypto friends on Facebook have talked about the benefits of this coin since yesterday. And I will not be affected.

as I said before about new coins is far more risky for investment and trading. especially with MATIC coins, you should have known when they experienced a sharp increase of up to 180%. and that is a warning. I mean this, if there is a price increase outside the estimated limit then you immediately sell it. No need to wait long to play coins like that, and sorry you might have passed the best moment.

Despite from having a massive dump, after that the token has gained quite the pump and dump scenarios. Looks like someone is behind the massive dump to create a classic movements, which is pump and dump coin/token. Some news even said that the team themselves was the one who were selling a big amount of the tokens at one time, which made the price down to earth, literally.

I've been seeing people telling me to buy matic now, enjoy the moment and grab the profits while you can. Well. No thank you, aside from I'm afraid that the panic sell is likely to happen again, I'm not that brave enough to join such a high risks coin/token.

Well that's happens when a shit coin enters pump and dump i suggest that avoid this kind coins since it may not recover anymore and this will lead to huge losses in investors and to those still believe with this coin, i think you should sell this before it finally dies a lot of pump and dump coins are already dead and removed in exchanges.

That's will happen if the price of a coin pump expect the dump price will happen anytime. Lucky those investors who sold their Matic early, what a big profit.

Flash crashes happen all the time,,, I think Ethereum actually has the record for the flash crash. I do not recall the platform but I believe 99% drop happened and a lot of people lost their money (this is problem of software and bugs). Hence the name flash crash, because it happens in a flash.

Anyway now is 0.016 so I guess we can also say it has risen 33% from the crash price.

Matic is a good token and I have had it and made a lot of profit for me. But when matic drops up to 70% as it is now, it will be very bad. There must be some problems that are happening or there are greedy people on their team. This is not good for matic. But this is also an opportunity for traders to buy matic at low prices.

Matic was one of the potential altcoins that had recently been sold in Binance, and this type of fall was an unexpected change. This shows us that we should not even trust Binance. Well if an exchange like Binance didn't know that Matic was a pump-dump coin, how could the majority know? Or Binance was aware of it and shutted up for profit.

Just a Classic pump and dump strategy. It's not totally necessary the team members be involved in the activity as matic is an old and good project. This could have totally came from whales. But investors should remain cautious from any coins that does these frequent pumps and dumps.

This is not a terrible history in the crypto space, the MATIC decrease is nothing compared to NXT at that time.

NXT is worse and until now the coin feels dead to me, we have to be prepared with everything on the exchange and that's why we all need to check and agree to the agreement when registering on the exchange.

Most likely Binance knew perfectly well that this would happen. Therefore, after this incident, the exchange said that the developers are not involved in this and in addition said that they will manually control the price reduction. This makes doubt all the principles of this exchange. Matic very much brought down its price and if in the near future the price will not recover and will continue to decline then this project will be a certain Scam and most likely we will need to think about cooperation with the Binance exchange.

Today matic have been in lower price and not trusted with this altcoin again, I am lucky because I have sell with higher price and not interested for buy back because price looks very down and not profit again for investing with Matic, I think this coin become most failed after list with IEO although on bigger exchange like binance and have lower price after listing.

ROFLMAO. What makes this any different from all the pump-and-dump tokens we had in 2018 and 2019? Now let me recount what happened to MATIC this month:

The pump starts at $0.014
The peak valuation is attained, at $0.042
Massive dump occurs, with 24-hour trade volume clocking at $350 million
After the dump, the price gets back to the pre-pump levels ($0.013)

During the past 3 years, I have seen dozens of similar pump-and-dump cycles. So this doesn't surprise me anymore. Many congrats to the promoters, who managed to dump their tokens at a healthy rate!!!

Im not sure when you are saying today because of the speculators are still betting on matic to do another recover again.  we will see what will be happening if there will be another false dump again from the team. People must learn from what they have seen from the market. If they are not learning from the past experience and what makes them wanna learn again about that just waiting for the next dump. The team is actively sending the tokens to the market.

It will be the next fail token but not for this time. The team needs to dump more and more tokens before they can buy lambos.
this scheme just like a ponzi.

That's why IEO token should have a restriction, I think STO or investment related is more stable than trading plain utility tokens. People already know that trading is very risky and this kind of crash is inevitable. If I can be able to join in launchpad I will sell it at peak and never try to find bottom sink to enter again, chance it will stay at the bottom and never recover.

who can control greed ;D who can know when is the peak to sell their cryptocurrencies. People often buy late and sell late, which is called high buy and low sell.
IEOs are always good if we buy before they are opened their trading assets.

in my opinion the 70% decline in metic was affected by the BITCOIN market which was so active that investors dumped it to choose to move their funds to another bank but behind that metic had managed to touch the highest price.

After that sell-out, CZ confirmed that it was not because Matic's team did this. The sell-off was done by a group of whales and caused the price of the matic to plummet, which proved everything was in the plan. many people had Long matic that night and the next morning the account was empty. Therefore, in this crypto market, we must be careful and never be all in any coin, risk always lurks us.

the decline is still related to the trend that is happening and i think it is not something that is surprising anymore because anything is very possible to happen and with a large decline but at least MATIC can still survive until now and will definitely recover again when the trend becomes more positive

whales really play a role in any market, they release it because the whale takes an advantage or anticipates losses and there are even some whales whose purpose is to damage the market but that rarely happens to famous coins.

Matic is doing bad things actually, huge manipulation they are doing now. I sold out my all coins and moved on Burn and One. 70% drops in a couple of minutes indicate a huge loss for the investors. Mid core investors are affecting for such manipulation where whales are filling their bags. I never thought Matic would be such a pump dump coin.

It's always worrying that a coin which deemed to have promising future and somehow "backed" by popular exchange like binance could turn really bad though it's slowly regaining the price back up after the fuss and rumours but it's really hurting the reputation for a long term and I doubt that the coin could reach its ATH ever again despite the fact that everything could happen in the world of cryptos.