$ZKJ Another project has run away with this trash coin!
$ZKJ token has recently experienced a decline of over 80%. Analysis indicates that this is mainly due to the following factors:
1. Large-scale liquidity withdrawal: It has been observed that large wallets (e.g. 0x1A29, 0x0781) have withdrawn millions of dollars' worth of assets from the ZKJ/KOGE liquidity pool and sold them. This has been pointed out as the direct trigger for the flash crash and the 'liquidation cascade'.
2. The drag effect of the associated token KOGE: ZKJ is closely associated with KOGE (bound trading, shared liquidity). The depletion of liquidity in the KOGE pool led users to sell ZKJ, impacting its USDT trading pair and exacerbating the downward pressure on ZKJ.
3. The impact of the Binance Alpha mechanism: The main wallets involved are believed to be users of the Binance Alpha points farming. They may have taken advantage of this mechanism (earning points through trading volume) to profit by withdrawing at the peak after boosting trading volume. In response to such risks, Binance plans to adjust the rules starting June 17, where inter-trading of Alpha tokens will no longer count towards points rewards.
