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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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