𝗣𝗢𝗟𝗬𝗛𝗘𝗗𝗥𝗔 𝗣𝗟𝗨𝗡𝗚𝗘𝟴𝟱% :𝗖𝗢-𝗙𝗢𝗨𝗡𝗗𝗘𝗥 𝗣𝗥𝗢𝗠𝗜𝗦𝗘𝗦 𝗧𝗢𝗞𝗘𝗡 𝗕𝗨𝗬𝗕𝗔𝗖𝗞
The price of ZKJ, the native token of Polyhedra Network, collapsed by nearly 85% in a few hours, falling from around $2 to just $0.30 — and now the team is fighting back.
🔻 What Happened?
Polyhedra said the crash was caused by a “coordinated onchain liquidity attack.” Here's what contributed to the sudden drop:
Massive token dumps on PancakeSwap
Large deposits to exchanges by market maker Wintermute
A wave of liquidations as prices fell rapidly
🛠️ Team’s Response
📢 Co-founder Tiancheng Xie admitted the token took a serious hit, but insisted the technology behind Polyhedra remains strong.
“Our tech is rock solid. We won’t back down from shady financial attacks,” he posted on X.
✅ He also confirmed more ZKJ token buybacks are coming soon.
📉 ZKJ Price History
📈 All-time high: $3.40
🧊 Pre-crash stability: around $1.10
🔻 Current level: $0.30
ZKJ was launched in March 2025, and the crash came just a year after Polyhedra was valued at $1 billion, backed by big names like Polychain Capital, Animoca Brands, and HashKey Capital.
🧠 Why It Matters
Polyhedra is known for zkBridge, a zero-knowledge protocol designed to improve cross-chain transactions.
Despite the crash, the team says the core product remains untouched, and the buyback could help rebuild market trust.
📌 Details of the buyback plan — including how much ZKJ will be bought and when — haven’t been revealed yet.
📍 Bottom Line:
Polyhedra's ZKJ token just had one of its worst days — but the team says they're not done yet. With buybacks on the table and tech still intact, all eyes are on what happens next.
#ZKJ