😡 "Unexpected" drop of the coin $ZKJ.

The $ZKJ token of the Polyhedra project plummeted by -85% in just one hour. This is the second major crash this year after the coin $OM .

🤨 How "unexpected" was the drop?

Analysts from Looks on chain note that six whale wallets sold 5.23 million $ZKJ for $9.66 million before the token's price crash.

Here’s what #Binance says

We immediately noticed the fluctuations in the ZKJ price. According to preliminary studies, this is related to liquidity withdrawals by whales on numerous exchanges and networks, as well as a series of consecutive liquidations.

A video (see in the "header") from the analytical site Arkham is also circulating in the network. In the video, it can be seen that the Polyhedra team personally transferred a large amount (~$40 million in ZKJ coins) and sold the coin on centralized exchanges and DEX. We were not holders of this coin, but we understand well those who got trapped with $ZK .

💁‍♂ Conclusion

Further confirmation that for long-term investment in crypto, only BTC is suitable. Everything else is speculation ahead of the long-awaited alt season.

P.S. The Polyhedra team posted a defensive statement on banned Twitter. Judging by the comments, very few people believed them.