Recently, the project explosion event of $ZKJ has once again exposed the true nature of some people's operations in cutting leeks. Its predecessor, under the name ZK on the OKX platform, harvested a wave and then returned with a new identity, essentially still the same old trick.

$ZKJ is another project team that has run away with a lousy coin!

#ZKJ 's recent plummet is mainly caused by the following factors:

1. Large liquidity withdrawal triggered a flash crash

Multiple large wallets withdrew large amounts from the ZKJ/KOGE pool: such as 0x1A29 and 0x0781, which withdrew millions of dollars' worth of KOGE and ZKJ, and sold in batches.

Binance warned that this triggered a wave of liquidity crisis and a "liquidation cascade," leading to a price drop of over 80% within a few hours.

2. Interaction with related tokens dragging down

ZKJ and KOGE are bound for trading and share liquidity. The KOGE pool dried up first, causing users to rush to convert to ZKJ, which then impacted its USDT pool, triggering a chain reaction.

3. Utilization of Binance Alpha mechanism

The main wallets in this event were mostly users of the Binance Alpha points farming. They utilized the Alpha mechanism to drive trading volume to earn points, and then withdrew their investments at a high point to profit.

Binance subsequently announced that from June 17, trading between Alpha tokens will no longer count towards points to reduce structural risk.
#以色列伊朗冲突 #卡尔达诺稳定币提案 #币安Alpha理财中心