$BTC

Matic (MATIC) is the native token of Polygon, an Ethereum scaling solution. It became a popular asset in the cryptocurrency market due to its narrative of low cost and high speed, resulting in a typical "pump and dump" scenario.

In the early stages of the project, the team heavily promoted Polygon's ability to solve Ethereum's congestion issues, attracting significant attention from institutions and retail investors. With the market's enthusiasm for Layer 2 solutions, the price of MATIC surged several times in a short period, driven by FOMO emotions, leading many retail investors to enter the market at high prices. However, the token's price surge was not based on substantial progress but rather on capital speculation and emotional drives.

As market enthusiasm faded, issues like the slowdown in the project's technical rollout and the lower-than-expected activity of ecological applications began to surface. At this point, early investors and institutions started to quietly cash out at high prices, leading to a massive sell-off that triggered a sharp price correction. Within just a few days, the price of MATIC plummeted over 50%, leaving latecomers among retail investors unable to stop their losses, deeply trapped in their positions.

The core of this harvest lies in narrative speculation + emotional harvesting, utilizing industry hotspots to create profit effects, attracting retail investors to take over, and ultimately achieving exit through high-price sell-offs, leaving retail investors to bear the losses from the price collapse, becoming a typical case of the cryptocurrency market's pump and dump model.