MAT Token: Analysis of the Plunge in the AI-Driven Web3 Identity Ecosystem
MAT is the native token launched by Matchain, focusing on AI-driven web3 data sovereignty and decentralized identity infrastructure.
As a zk-rollup Layer 2 blockchain, Matchain supports the MatchaID identity system, with verified users exceeding 190 and over 700 million transactions. MAT is used for paying transaction fees, node staking, governance voting, and data authorization rewards, helping users achieve data transformation through AI. The project has been launched on platforms such as Binance and Alpha, and has gained significant market attention with advantages in the AI + data privacy + DID track.
The recent plunge in MAT is primarily due to a large leveraged forced liquidation on April 13, which triggered a chain sell-off, causing the price to drop from $6 to below $0.5, resulting in a 90% evaporation of market value. Insufficient liquidity amplified the decline, and the team denied internal selling while warning investors to be cautious of high leverage risks.
Overall, MAT has significant potential as a representative of web3 identity and data assets. If you're confused and don't know what to do, just follow me, Su! I need fans, and you need references; instead of guessing blindly, just follow!