How to explode a multi-line string?

I have a string that has different values on each line:

$matches="value1
value2
value3
value4
value5
";

I want to explode the whole string in to an array consisting of the values separeted. I know how to explode a space separated string, like explode(' ', $matches). But how do i use the explode function on this type of string?

I tried this:

$matches=explode('\n',$matches);
print_r($matches);

But the result is like:

Array
(
    [0] => hello
hello
hello
hello
hello
hello
hello

)