$BNB #BinanceAlpha According to analyst Ai 姨 on X, the flash crash of KOGE and ZKJ on the night of June 15 may stem from the decrease in liquidity on Binance Alpha in the days prior. Here are 3 key points:
1. Why attack KOGE first, then ZKJ?
ZKJ has derivatives contracts: Whales can open short positions on the exchange while simultaneously selling the chain, optimizing profits.
ZKJ liquidity is better than KOGE:
ZKJ requires more capital to 'smash the price' → Must focus efforts on KOGE first to create psychological effects.
The collapse of KOGE triggers FOMO selling on ZKJ, reducing manipulation costs.
2. Why does the price crash slower than the selling time?
LP (Liquidity Pool) is too narrow:
KOGE and ZKJ originally had a liquidity pool concentrated around one price (e.g., $30 ± 2%).
When whales withdraw liquidity + sell off massively, there is no longer enough money to buy support → Price falls freely.
Domino effect:
LP panics and withdraws money → Liquidity becomes thinner → Price is easier to crash deeply.
Investors holding are stuck with depreciating tokens.
3. Why choose the night of June 15 to 'smash the price'?
Binance Alpha weakens:
Alpha trading volume continuously decreases for several days → Thinner liquidity → Easier to manipulate.
Weak holder mentality:
Most holders of KOGE/ZKJ are farm APR, not long-term holders → See risk and sell immediately.
It only takes a few whales to withdraw liquidity to cause a 'crash effect'.
Lessons from the KOGE-ZKJ disaster
✅ Risk of concentrated liquidity pools:
Projects with narrow LP are easily manipulated even with high volume.
Always check the order book depth before investing.
✅ Monitor liquidity fluctuations:
If you see a sharp decrease in TVL in the pool, be cautious.
✅ Avoid FOMO into high-APR farms:
Yield of 794% APR (like KOGE-ZKJ) usually comes with the risk of collapse.
🔎 Who benefits?
Whales shorted derivatives before selling.
Group withdrew liquidity early, avoiding the crash.
