Polyhedra’s ZKJ Token Takes a Nose Dive – 91% Drop in Just 24 Hours!

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Well folks, if you blinked, you missed it. Polyhedra Network’s native token ZKJ has just experienced the kind of drop that makes rollercoasters look like kiddie rides. In just 24 hours, it plummeted a jaw-dropping 91%, hitting a pitiful $0.3305 on June 16. Why? Oh, just a little “crisis” involving “abnormal” transactions and a few mass withdrawals that could make anyone’s stomach turn. 🍿

So 🙄

The on-chain data then painted a picture straight out of a financial thriller. Several big wallets were spotted farming Alpha Points before the crash – you know, because why not? One brave soul pulled over $3.7 million in KOGE and $530,000 in ZKJ. Two others yanked out almost $5 million. Naturally, this led to the fateful “liquidation cascade” – that’s just a fancy way of saying things went completely sideways. 🏃‍♂️💨

But wait, there’s more. Mark your calendars, because 15.5 million ZKJ tokens are about to unlock on June 19, which could bring a lovely $10 million worth of sell pressure to the already-scorched market. To add fuel to the fire, Binance has been so kind as to update its Alpha Points rules. Starting June 17, trades between Alpha tokens like KOGE and ZKJ won’t count towards rewards. Because, you know, it’s been too much fun already. 😅

Polyhedra, ever the optimists, claim they are reviewing the whole shindig and assure us that their core technology remains as strong as ever. Well, that’s nice to know – if only the market felt the same way. 🙃

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2025-06-16 08:21