Why did the Polyhedra collapse?
Before the ZKJ crash, many wallets began withdrawing liquidity from the ZKJ and KOGE pools, exchanging KOGE for ZKJ and selling ZKJ.
📉Only six wallets sold 5.23 million ZKJ for $9.66 million. Due to decreased liquidity and aggressive selling, there was a wave of long liquidations on the ZKJ token.
In the first 4 hours, $100 million was liquidated, which at that time accounted for 81.3% of all liquidations in the crypto market.
