December 11, 2019, 6:44PM EST
• 3 min read

What does the trading volume tell us about Matic's 66% price drop?

Quick Take

  • Matic’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 panicked
  • Although volumes increased dramatically during the downfall, the rise in the average trade size was nothing substantial
  • Instead, trading 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

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