MATIC listed at around x2 on Binance. Will BNB dump?

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Garry Kabankin
Apr 26, 2019

Matic Network is a recent Binance Launchpad project, a Plasma Implementation to provide side chain scalability solutions for public blockchains.

"Sale" took place on April 25th in format of lottery.

Users were able to claim up to a maximum of 5 lottery tickets based on their min BNB holdings over the 20 days.

In fact around ~60% if lottery participants won fixed allocations of 300 USD Matic equivalent per ticket.

Flippers tend to use this kind of tables to navigate price levels and similar marketcaps:

Current MATIC multiplier: ~x2

Social buzz on maximum:

First spike in the beginning of April - Matic was announced on Launchpad

Moods vary:

"MATIC won't be different than FET and CELR, all are shit, created to drag BTC. 🤮 🤮"

"Buy matic now or cry later"

Now the interesting thing is how this will affect the BNB price.

To compare - a few hours ago listed DREP, with approximately the same initial multiplier.

Very soon DREP dropped to x1 and GT tokens dumped ~30% setting all time low.

BNB, we're watching you.
In such a tough red day.

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Garry Kabankin
Apr 26, 2019

Thanks for reading!

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Assets from this insight

Matic Network logo

Matic NetworkMATIC

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