$BTC

✍️ The price of the digital currency ZKJ collapses by more than 80% after mass sell-offs from early investors

The price of the digital currency ZKJ collapses by more than 80% after mass sell-offs from early investors. The price of the digital currency ZKJ collapses by more than 80% after mass sell-offs from early investors.

The price of the digital currency ZKJ, which is the native currency of the "Polyhedra" network, experienced a sharp decline exceeding 80% on June 15 after coordinated withdrawals by wallets believed to belong to major early investors in the project.

The price dropped from $1.9 to $0.2, then fell again below $0.3 after peaking at $4 in March 2024.

The price of the digital currency KOGE, associated with the same system, also declined from $62 to $24.

Network analysis showed that three main wallets liquidated millions of ZKJ and KOGE over a short period, leading to a violent sell-off coinciding with the introduction of an additional 15.53 million ZKJ for trading.

The "Polyhedra" network commented that the sharp drop was due to abnormal transactions on the ZKJ/KOGE pair and confirmed that an investigation is underway.

In contrast, no official comment has been issued by Club 48, although it previously stated that the digital currency KOGE had never had any commitment against selling since the beginning.