Why is ZKJ down today?
The crypto community is discussing Sunday’s hottest topic — the 80% crash of ZKJ, the native token of the Polyhedra Network project.
On June 15, in the second half of the day, the ZKJ token rapidly lost value, plunging from $1.95 to $0.26 in just two hours — an 87% drop.
As a result, the market capitalization of Polyhedra Network fell from over $700 million to $94 million, and the token dropped from the top 200 to rank #350 by market cap.
Polyhedra Network has been developing the zkBridge protocol for several years, enabling interoperability between Web2 and Web3 apps and connecting real-world assets (RWA) to Web3.
The project had gained attention from developers and investors. However, such a steep decline — reminiscent of the recent Mantra (OM) crash — may damage Polyhedra’s prospects of securing a strong market position.
$ZKJUSDT
