The Truth Behind the 90% Plunge of $ZKJ : How Whale Withdrawals and Mechanism Flaws Triggered a Bloodbath in the Crypto Circle?
ZKJ has recently experienced significant market fluctuations, with the core issue being that liquidity is too fragile combined with flaws in the incentive mechanism. Previously, the associated token KOGE encountered problems, and large holders withdrew funds, causing ZKJ to plummet over 90% in one day. Although it has rebounded somewhat now, it is still down 88% from its peak.
From a technical perspective, although there has been an increase, it has not broken through key price levels. Coupled with unlocking sell pressure and the possibility of large holders continuing to sell, risks remain. The project itself relies on zero-knowledge proof technology, but actual applications and collaborations have not kept pace. Previously, Binance's points system was exploited, leading to excessive speculation.
Now that regulation is also strict, it is advised not to rush into chasing prices. It is better to wait until the project's technology is truly implemented before considering it. The recent short-term rebound may just be an emotional recovery, not a real reversal, so manage your positions and avoid heavy investment.
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