$BNB #BinanceAlpha ChainCatcher - Representative 48ClubIan of the KOGE project has posted an important announcement on Binance Square, responding to rumors related to the recent sharp price drop of KOGE and ZKJ. Below are the main points:

1. Deny the panic selling allegations

  • "48Club does not sell KOGE from the Treasury fund, and I personally do not push the price down."

  • "48Club has no partnership with the ZKJ team, nor do they hold ZKJ."

  • "I (48ClubIan) have never owned ZKJ."

2. Explain the reason for the price drop

  • The Binance Research and Binance Web3 teams reached out to inquire about the event, and KOGE provided transparent evidence.

  • Main reason: A flaw in the trading volume calculation mechanism of Binance Alpha, leading to 'wash trading' phenomena.

    • "I have repeatedly warned about this risk on Binance Square and Twitter."

  • Detailed analysis can be found in the report by @ai_9684xtpa.

3. Next plan

  • KOGE Trading Competition organized (Trading Race) from June 16, lasting 1 week to restore community trust.

  • Deny rumors about "low-fee liquidity pools only for whales":

    • "Technically, we cannot create such a pool (even through IP)."

4. Insights from the team

  • "Don't confuse the risk warners with the risk creators."

  • "If everyone who warns is considered a perpetrator, then it’s no different from saying 'if you don't push the old man down, why should you help?'"

  • "I'm not interested in 'cutting your losses' – your assets are thinner than my blade."

Market analysis

  • KOGE and ZKJ are part of the Binance Alpha group, which is highly volatile due to trading incentive mechanisms.

  • The KOGE team's transparency can help reduce FUD (Fear - Uncertainty - Doubt), but monitoring is needed:

    • Actual trading volume after the Trading Competition event.

    • Binance's actions regarding the wash trading flaw.

👉 Advice: Investors should consider the risks when participating in Alpha projects, avoiding being swayed by unverified rumors.