As you guys know, there was a Matic token swap to Polygon on Binance and other exchanges. Yesterday, Polygon got listed again on Binance but there was a sudden, unusual behavior. Matic's price was nearly 0.39 USD and someone paid up to 1 USD per token and then the price went down to normal price again.
This isn't something new of course, I have seen it many times but I don't really understand why such spikes happen. Why would someone pay $1 on Matic when he or she could buy tons of it for only $0.39?
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What you termed the "payment" of a thing is what I don't understand, and if anyone pays at that level, then such has been a victim of a "bucket shop". This is why we should wait for a while when a new listing is about to happen, otherwise, we may experience a situation like that.This isn't something new of course, I have seen it many times but I don't really understand why such spikes happen. Why would someone pay $1 on Matic when he or she could buy tons of it for only $0.39?
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However, I've investigated this kind of spike in exchanges when they just listed a new token or coin but there have never been any satisfactory reasons for it other than they just did as they liked even as they claim some factors if you asked them. With three exchanges listed at almost the same time, their charts of the token/coin would have different peaks and bottoms which can only suggest that they might be swindling people of their money at those levels (bucket shop), those prices (peak/bottom) are not real.