#ZKJ
The cryptocurrency ZKJ, from the Polyhedra Network, experienced a dramatic drop today, plummeting about 87% in just a few hours. The price fell from US$ 1.95 to US$ 0.26, reducing its market capitalization from *US$ 700 million to US$ 94 million.
The reasons for this decline include abnormal transactions in the ZKJ/KOGE trading pair, which triggered cascading liquidations, along with large liquidity withdrawals that compromised the market. There were also suspicious movements from wallets that dumped millions of tokens into the market, generating panic among investors.
The team at Polyhedra Network stated that they are investigating the incident and suggested that there may have been market manipulation. Meanwhile, the crypto community is debating whether the project will be able to recover from this crisis.
Have you invested in this coin before?