MATIC listed at around x2 on Binance. Will BNB dump?
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:
"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 Gate.io 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.