Conversation

One uninformed guess about MATIC: a) Markets weren't super liquid to begin with--prob wouldn't take _that_ much selling to have significant impact b) Very likely a few people sold a bunch c) Could be seed investors or 'advisers' if not 'foundation'

polygon.technology

Polygon Blogs - Build crypto apps that scale

Stay up to date with the latest stories and commentary brought to you by Polygon, the world's leading blockchain and crypto

5:50 AM · Dec 10, 2019Twitter Web App

Replying to

blog.matic.network/foundation-tok Looks like if it was the foundation, it was selling off ~$10m pre-crash of MATIC. That might have been enough. Alternately could have been investors/partners/etc.

polygon.technology

Polygon Blogs - Build crypto apps that scale

Stay up to date with the latest stories and commentary brought to you by Polygon, the world's leading blockchain and crypto

Replying to

and

There was also an airdrop I believe with a snapshot 9/DEC Would explain mysterious pump and then disaster dump

Replying to

and

Lol links C) 😂

Replying to

and

could you elaborate a little bit on the later , the foundation thingy ?

Replying to

Lots of people saying it was basically MATIC itself selling (i.e. the 'foundation'). I don't have any real info but if not the foundation, it could have been an early investor selling their tokens, or some partner that had been sold or given tokens at tomse point.

Show replies

LadaToLambo

Replying to

and

"Ecosystem" New scam term. Translations, more coins to creators of scam IEO to dump on market at will, combine this with foundation coins and you see Matic gave themself over half of the supply. IEOs are Scams. Plain and simple.

Replying to

and

According to cryptorank, 6 addresses control ~95% of supply, with 1 controlling 55%. They probably triggered each other's stop losses if it wasn't a coordinated sell-off.