RATE Group | This Bitcoin Rival Just Crashed By A Shocking 70% In An Hour [Update]
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This Bitcoin Rival Just Crashed By A Shocking 70% In An Hour [Update]

11 Dec This Bitcoin Rival Just Crashed By A Shocking 70% In An Hour [Update]

Posted at 04:49h in Bitcoin News by

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Bitcoin and cryptocurrency markets are well known to be highly volatile but a sudden 70% plunge in under one hour is extreme even for the scandal and scam-ridden crypto market.

Matic, a digital token used on the blockchain scalability-focused Matic Network, suddenly crashed around 70% last night, before a slight recovery.

[Update: 7:15pm December 11 2019] Matic failed to make up ground during today’s trading, with the cryptocurrency now priced at $0.017 per token. The fall in the matic price may have boosted one of its closest rivals, chainlink, which is up almost 10% on the day to $2.28.

The reason for the collapse in the matic price, which dropped to $0.013 from $0.042 in under an hour, was not immediately clear though the chief executive of popular bitcoin and cryptocurrency exchange Binance, Changpeng Zhao, took to Twitter to reassure matic users.

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