Topic: Binance’s IEOs keep Dumping, but why? - page 11. (Read 1603 times)
Apparently, the scenario of this film have been written long ago by the team. It is just a cliche pump-dump theme. But I do not think there is any other fault than Binance's lie (They probably gave a statement like this to protect themselves) statement on this. The exchange sets certain limits that the amount sent is probably no more than that. In this scenario, there could be another exchange instead of Binance.
I seriously don’t know if it’s Binance or what but it is certainly hurting their credibility. They shouldn’t allow such projects to have IEOs on their platform, it seems weird why would Binance let it happen so many times?
I don't think Matic team is free from the manipulation, this is part of the danger in a yet to established altcoin, you never know when the evil killer trigger is going to be pulled. I have severally be injured by these altcoin, this is why I am now a bounty hunter. Ordinarily I prefer trading to hunting.
A very valid point. I am Binance lover, but Matic like projects are worthless, so I am least concern about such altcoins…
The prophecy will become true. Only a few of the cryptocurrencies is going to survive while all the rest will go to zero. There were other "good" projects before and nobody even remembers their name anymore. On the other hand, you can't just stop people creating new crypto and there will always be some risk takers too so... coins like Matic will always make one big pump before dying off completely.
I don't think Matic team is free from the manipulation, this is part of the danger in a yet to established altcoin, you never know when the evil killer trigger is going to be pulled. I have severally be injured by these altcoin, this is why I am now a bounty hunter. Ordinarily I prefer trading to hunting.
A very valid point. I am Binance lover, but Matic like projects are worthless, so I am least concern about such altcoins…
Aww, Binance is Sketchyyyy, I don’t even think they are worthy to talk about
After what Binance has done for past 6 months, this will be no big deal for them!
I don't think Matic team is free from the manipulation, this is part of the danger in a yet to established altcoin, you never know when the evil killer trigger is going to be pulled. I have severally be injured by these altcoin, this is why I am now a bounty hunter. Ordinarily I prefer trading to hunting.
Binance is facing yet another criticism as one of their IEO tokens has seen a huge dump once again. Matic, which was put on Binance launchpad, Binance’s version of an IEO, fell 60% in just minutes.
The token which is on the Ethereum network saw the huge drop. Coinmarketcap data said that MATIC/BTC reached a high of 562 satoshis on Monday, before diving to lows of just 195 satoshis.
Matic were forced to write a blog post to their investors and supporters explaining the situation. They also had to answer strong claims that they were behind the dump and had duped unsuspecting investors.
The blog post said:
“We want to strongly state that the allegations of token movement from our Foundation account, made by a FUD account against Matic team are completely baseless.”
Unsurprisingly, Binance CEO, Changpeng Zhao was quick to refute the inside job accusations too. Matic was one of the first tokens to raise funds on Binance Launchpad, so this is yet another PR disaster for Binance, in what has been a rough year for the company.
On the Matic issue, CZ said: “Our team is still investigating the data, but it's already clear that the MATIC team has nothing to do with it.” He went on to blame bagholders for the volatility:
“A number of big traders panicked, causing a cycle. Going to be a tough call on how much an exchange should interfere with people's trading.”
Many articles had previously been praising binance and their launchpad for the apparent success of the IEO and how the tokens listed all appeared to be pumping. A Cointelegraph article pasted in November asked: “Why Are Binance IEOs Starting to Pump?”
Well, it's funny what a difference a few weeks make a now it appears many are dumping, and fast. This Matic incident is not the first time a huge dump has happened to a Binance Launchpad token. Fetch.AI (FET) saw a big dump after its listing, as did many other tokens.
Celr another prominent token on Binance launchpad also saw a significant drop in price. The list i vergrowing. Is Binance really the best path to take?
This Matic data would suggest not and the questionable nature around this latest dump calls into question the trustworthiness of the company and Binance. This not being the first time, especially as Binance saw themselves drop out of the top ten of most trusted exchanges last month. The signs are clearly presenting Binance and those associated in a bad light. Let’s see if this Matic scandal is a big anomaly or more tokens from Binance launchpad take a similar path.
The token which is on the Ethereum network saw the huge drop. Coinmarketcap data said that MATIC/BTC reached a high of 562 satoshis on Monday, before diving to lows of just 195 satoshis.
Matic were forced to write a blog post to their investors and supporters explaining the situation. They also had to answer strong claims that they were behind the dump and had duped unsuspecting investors.
The blog post said:
“We want to strongly state that the allegations of token movement from our Foundation account, made by a FUD account against Matic team are completely baseless.”
Unsurprisingly, Binance CEO, Changpeng Zhao was quick to refute the inside job accusations too. Matic was one of the first tokens to raise funds on Binance Launchpad, so this is yet another PR disaster for Binance, in what has been a rough year for the company.
On the Matic issue, CZ said: “Our team is still investigating the data, but it's already clear that the MATIC team has nothing to do with it.” He went on to blame bagholders for the volatility:
“A number of big traders panicked, causing a cycle. Going to be a tough call on how much an exchange should interfere with people's trading.”
Many articles had previously been praising binance and their launchpad for the apparent success of the IEO and how the tokens listed all appeared to be pumping. A Cointelegraph article pasted in November asked: “Why Are Binance IEOs Starting to Pump?”
Well, it's funny what a difference a few weeks make a now it appears many are dumping, and fast. This Matic incident is not the first time a huge dump has happened to a Binance Launchpad token. Fetch.AI (FET) saw a big dump after its listing, as did many other tokens.
Celr another prominent token on Binance launchpad also saw a significant drop in price. The list i vergrowing. Is Binance really the best path to take?
This Matic data would suggest not and the questionable nature around this latest dump calls into question the trustworthiness of the company and Binance. This not being the first time, especially as Binance saw themselves drop out of the top ten of most trusted exchanges last month. The signs are clearly presenting Binance and those associated in a bad light. Let’s see if this Matic scandal is a big anomaly or more tokens from Binance launchpad take a similar path.
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