MATIC breaks into the top 10 by trading volume amid tenfold gains in a week and a half
The proprietary token of the Matic Network project, which held an initial exchange offering (IEO) at the end of last month on the Binance Launchpad platform, after a relatively unremarkable start, has been surprising for the last days.
With a capitalization of $ 83 million, MATIC ranks 72nd among of all assets on market. Together with themes, by volume trades, according to CoinMarketCap data, token rose on the ninth line, being more demanded, than, for example, Binance Coin or Stellar. It should be noted that 99% of this volume focused on Binance.
Selected users link the current MATIC pump to the actions of market makers seeking to maximize the tokens listed on Binance Launchpad attractive ahead of IEO Harmony Protocol, which will take place on May 28.
Indeed, in the last days relative lulls in the market cryptocurrencies on general the background is highlighted by projects that conducted IEO on Binance Launchpad, in Tom including BitTorrent, Fetch.AI and Celer, which gained 25-30% per day. And even Gifto, taking advantage of lunchpad services exchanges the year before last year, today increased by 53%.