The digital token Matic dropped an amazing 70% in just a single hour on December 10, making this probably the severest drop in
crypto history. The token crumbled from $0.042 to $0.012 in a flash leaving traders totally bewildered. The dumped sum is generally $60 million as far as the market top.
This monstrous drop was to some degree sudden in light of the fact that Matic had been performing very well preceding the drop. It was up 180% over a range of about fourteen days before the drop. The emotional drop left the online life stage, Twitter in a craze with individuals scrutinizing the administration or thinking about whether it was an inside activity.
Source: TheCoinRepublic After that sell-out, CZ confirmed that it was not because Matic's team did this. The sell-off was done by a group of whales and caused the price of the matic to plummet, which proved everything was in the plan. many people had Long matic that night and the next morning the account was empty. Therefore, in this crypto market, we must be careful and never be all in any coin, risk always lurks us.
whales really play a role in any market, they release it because the whale takes an advantage or anticipates losses and there are even some whales whose purpose is to damage the market but that rarely happens to famous coins.