The price of token #ZKJ Polyhedra has recently dropped by 83%, falling from $2 to around $0.30 in less than an hour, causing concern among investors.
However, Polyhedra has provided clarification regarding the reason for this price drop and confirmed that its technological fundamentals remain strong.
In an official announcement issued to its community, Polyhedra stated that the sharp decline in prices was due to a series of abnormal transactions on-chain that occurred over a very short period of time on the trading pair #ZKJ /#KOGE .
This action led to severe volatility, causing significant pressure on the market.
The Binance platform, which also responded to the incident, explained that the price drop was due to a large liquidity withdrawal by major shareholders and a series of liquidations in the market.
This exacerbated the price decline and created a domino effect that significantly impacted the prices of ZKJ and KOGE.
Despite the drop in prices, Polyhedra insists that its fundamentals remain strong, both in terms of technology and community support.
They remain committed to continuing development and innovation according to the established plan. The Polyhedra team is closely monitoring the situation and will provide further information as soon as possible.
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