Key dealers
- Polyhedra Networks ZKJ -Tokens crashed over 80% after large liquidity outlets.
- The sale coincided with a token unlock that released 15.53 million ZKJ tokens.
The price of ZKJ, Polyhedra Network’s native token, collapsed by more than 80% this morning after suspected coordinated liquidity removal of large holders.
ZKJ saw heavy volatility on June 15 and tumbled from $ 1.9 to $ 0.2 before rebounding, coinmarketcap data shows. The token, however, resumed its decline shortly thereafter and fell under $ 0.3 at the time of reporting.
Token previously topped to $ 4 in March 2024.
Koge -Token, known as the 48 Club -Token, associated with ZKJ, was also affected by market movement. The token threw himself from about $ 62 to $ 24 during the same time frame.
According to Data analysts on the chain @ai_9684XTPA, three large wallets Farming Binance Alpha Points made significant withdrawals and sales on Sunday, which triggered the steep decline.
The first wallet, which started with “0x1A29”, withdrew 61,130 coge worth approximately $ 3.7 million and 273 017 ZKJ valued at about $ 532,000, according to the analyst.
The second, starting with “0x0781”, removed 33,651 koge worth over $ 2 million and 709 203 ZKJ worth an estimated $ 1.4 million. The third address liquidated 772 759 ZKJ for approximately $ 1.5 million.
The sale coincided with a token lock that released another 15.53 million ZKJ tokens in circulation. It had previously maintained a stable trading price of about $ 2, which generated liquidity of over $ 20 million, mainly as a result of Binance Alpha Points.
In response to the token’s sharp price decline, Polyhedra Network said that the event triggered by a series of abnormal transactions on the chain at ZKJ/Koge trading couple within a short time frame.
The team added that the situation is under active review and promised to share additional updates when available.
Dear Polyhedra -Society – We want to emphasize that basic Polyhedra remains strong, both in our technology and in the incredible support of our society. We continue to build and drive forward as planned.
Today’s price drop was caused by a series of abnormal …– Polyhedra (@Polyhedrazk) June 15, 2025
48 Club did not comment on the latest incident. However, the team attracted attention after paying on Saturday that Koge had been completely diluted from day one and made it clear that they had never promised not to sell.
Yes, $ Cook Was completely diluted from the first day.
And no – 48Club never promises we would not sell. Nor binance for $ BNBright?
Do your own research.
Take your own risk.– 48 Club (Est. ’17) (@48Club_official) June 14, 2025
This is a developing story. We update when we learn more.
