Market Cap
24h Vol
7051
Cryptocurrencies
76483
Markets
TheBlock
2019-12-11 23:44:05

What does the trade volume tell us about Matic’s 66% price drop?

Quick TakeMatic’s token price dropped by 66% from $0.034 to $0.011 within a 35-minute timespan on Monday evening (Tuesday morning UTC)Binance CEO Changpeng “CZ” Zhao tweeted that the dip was caused by a number of large traders that panickedAlthough volumes increased dramatically during the downfall, the rise in the average trade size was nothing substantialInstead, trade volumes increased mostly on the sheer number of trades, a level of activity that Matic hasn’t come close to experiencing within the last 6 months