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Dumping 1.29 million ZKJ and 8,667 KOGE from CEX: Why did the price plummet?
On June 14th, the cryptocurrency market recorded unusual fluctuations of two tokens that were considered stable: ZKJ and KOGE. Both of these cryptocurrencies simultaneously decreased in price by 3% within a short period. The root cause originated from wallet address 0x364…f18e9 – believed to be a key factor driving the prices down.
Specifically, at 21:49, this wallet withdrew 1.29 million ZKJ along with 8,667 KOGE from the bipolar liquidity pool, and then proceeded to liquidate these assets. In total, the wallet owner sold ZKJ worth 3.1 million USD at 21:21 and 22:05; simultaneously, they sold KOGE worth 550,000 USD at 21:20.
This development caused ZKJ's trading volume to surge, peaking at 12.73 million USD right at 21:21. Shortly after, the price of ZKJ plummeted for 15 consecutive minutes – a clear sign of panic selling or a flight response from liquidity providers (LP). The reason is due to ZKJ's narrow liquidity range, making the price extremely sensitive to large volume trades.
By 22:05, the same scenario repeated, causing KOGE to also wobble, although the selling pressure was not significant. The close connection between the two tokens means that just one large-scale transaction is enough to shake the entire liquidity ecosystem, highlighting the interconnectedness and risks of decentralized pools in the cryptocurrency market.$BTC
#zjk #koge
On June 14th, the cryptocurrency market recorded unusual fluctuations of two tokens that were considered stable: ZKJ and KOGE. Both of these cryptocurrencies simultaneously decreased in price by 3% within a short period. The root cause originated from wallet address 0x364…f18e9 – believed to be a key factor driving the prices down.
Specifically, at 21:49, this wallet withdrew 1.29 million ZKJ along with 8,667 KOGE from the bipolar liquidity pool, and then proceeded to liquidate these assets. In total, the wallet owner sold ZKJ worth 3.1 million USD at 21:21 and 22:05; simultaneously, they sold KOGE worth 550,000 USD at 21:20.
This development caused ZKJ's trading volume to surge, peaking at 12.73 million USD right at 21:21. Shortly after, the price of ZKJ plummeted for 15 consecutive minutes – a clear sign of panic selling or a flight response from liquidity providers (LP). The reason is due to ZKJ's narrow liquidity range, making the price extremely sensitive to large volume trades.
By 22:05, the same scenario repeated, causing KOGE to also wobble, although the selling pressure was not significant. The close connection between the two tokens means that just one large-scale transaction is enough to shake the entire liquidity ecosystem, highlighting the interconnectedness and risks of decentralized pools in the cryptocurrency market.$BTC
#zjk #koge
Whether it’s an exit scam or “internal issues” — funds are still gone. Always protect your bags, folks. 😅
#MarketRebound
#zjk
#MarketRebound
#zjk
#zjk $ZJK
🚀 Best Time to Buy $ZJK Coin 🪙
Now $ZJK coin is at its lowest price 🎯
It is a great time to buy and save in Binance Earn Wallet.
🛒 Buy now and hold it for future profit.
📈 Support area (Low point): This is the price where coin stops falling.
📉 Resistance area (High point): This is the price where coin stops rising.
🕒 Holding Period: Hold for 3 to 6 months or until it reaches high price.
💰 Buy low ➡️ Sell high = Profit 🤑
✍️ Write down buy price and sell when price grows.
Holding = Gold 💛
Watch chart daily and choose coins with good chance to rise 📊
🎉 Save assets = Grow your wallet!
🚀 Best Time to Buy $ZJK Coin 🪙
Now $ZJK coin is at its lowest price 🎯
It is a great time to buy and save in Binance Earn Wallet.
🛒 Buy now and hold it for future profit.
📈 Support area (Low point): This is the price where coin stops falling.
📉 Resistance area (High point): This is the price where coin stops rising.
🕒 Holding Period: Hold for 3 to 6 months or until it reaches high price.
💰 Buy low ➡️ Sell high = Profit 🤑
✍️ Write down buy price and sell when price grows.
Holding = Gold 💛
Watch chart daily and choose coins with good chance to rise 📊
🎉 Save assets = Grow your wallet!
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ZKJUSDT
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📉 NEW: $ZKJ CRASHES 80% ON ABNORMAL TRANSACTIONS 🚨
Polyhedra’s $ZKJ token has plunged over 80% due to “abnormal on-chain transactions” on the ZKJ/KOGE pair. 🔻⚠️
The team says they’re investigating and will release more info soon. 🔎
💬 Do you think this is a technical issue or something bigger?
Drop your thoughts below 👇
#MarketRebound
#zjk
Polyhedra’s $ZKJ token has plunged over 80% due to “abnormal on-chain transactions” on the ZKJ/KOGE pair. 🔻⚠️
The team says they’re investigating and will release more info soon. 🔎
💬 Do you think this is a technical issue or something bigger?
Drop your thoughts below 👇
#MarketRebound
#zjk
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Regarding the web3 wallet, has the bug of trading card balance not been fixed yet?
Figure 1: Transaction at 2:11:51, hash value 0x70398c1de78edce90d5fcb91c9b7d4eb3cf24e59f586a722904a1fcca21517a3
Figure 2: After the transaction, the wallet and swap do not display the balance and value of ab
Until 2:14, the swap and wallet asset pages did not display the ab value
Figure 3: Refreshed at 2:16, congestion and market crash
Figure 4: The time period when I complained to my friends
Putting aside the alpha activity, I want to say: A normal transaction can be hard-controlled for 5 minutes like this. Is this wallet a qualified product?
#ALPHA #Web3 #ab #zjk
Figure 1: Transaction at 2:11:51, hash value 0x70398c1de78edce90d5fcb91c9b7d4eb3cf24e59f586a722904a1fcca21517a3
Figure 2: After the transaction, the wallet and swap do not display the balance and value of ab
Until 2:14, the swap and wallet asset pages did not display the ab value
Figure 3: Refreshed at 2:16, congestion and market crash
Figure 4: The time period when I complained to my friends
Putting aside the alpha activity, I want to say: A normal transaction can be hard-controlled for 5 minutes like this. Is this wallet a qualified product?
#ALPHA #Web3 #ab #zjk
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I seem to have discovered a point to reduce losses #zjk
When increasing trading volume, choose a specific coin, and then wait for it to suddenly drop. We can enter and exit quickly when it nears the bottom, not only avoiding losses but also making a small profit
#币安Alpha上新
When increasing trading volume, choose a specific coin, and then wait for it to suddenly drop. We can enter and exit quickly when it nears the bottom, not only avoiding losses but also making a small profit
#币安Alpha上新
😮 Current market update Big reversal come follow for profitable trades ♥️
#Binance #ProfitableTrades #zjk #USDT #TrendingTopic
#Binance #ProfitableTrades #zjk #USDT #TrendingTopic
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The Alpha score is influenced by two tokens, and this is Binance's response
Binance recognizes that ZKJ and KOGE have experienced significant price fluctuations. Our initial analysis suggests that these developments are due to on-chain liquidity withdrawals by large holders, as well as a series of liquidations in the market.
To protect the fairness and stability of the market, and to mitigate systemic risks related to concentration, Binance will adjust the rules for calculating the Alpha score. Starting from 00:00 UTC on June 17, 2025, the trading volume of Alpha token pairs will no longer be included in the Alpha score calculation.
Thank you for your understanding and support.
#zjk #KOGEtoken
Binance recognizes that ZKJ and KOGE have experienced significant price fluctuations. Our initial analysis suggests that these developments are due to on-chain liquidity withdrawals by large holders, as well as a series of liquidations in the market.
To protect the fairness and stability of the market, and to mitigate systemic risks related to concentration, Binance will adjust the rules for calculating the Alpha score. Starting from 00:00 UTC on June 17, 2025, the trading volume of Alpha token pairs will no longer be included in the Alpha score calculation.
Thank you for your understanding and support.
#zjk #KOGEtoken
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