#VietnamCryptoPolicy

😐 The crash of #ZKJ and #KOGE — liquidity manipulation and mass sell-offs!

✦ Polyhedra referred to the decline of ZKJ as a "series of anomalous on-chain transactions"

✦ Binance also noted strong price fluctuations of ZKJ and KOGE. According to their preliminary data, these events were triggered by the removal of liquidity by large holders and a cascade of liquidations in the market

What happened:

⊹ Three large addresses targeted Binance Alpha and two tokens — KOGE and ZKJ, organizing huge trading and liquidity volumes, which led to strong fluctuations in the market.

⊹ Two key steps that led to the crash: mass withdrawals of liquidity and continuous sell-off of tokens.

⊹ As a result of the "relay sell-off," the process of liquidity gathering for these tokens was completed (ai_9684xtpa)

The network of conspiracy whales simply dumped the token, collapsing its capitalization by $500,000,000.

P.S. Another major unlock of #ZKJ will take place on June 19.