cyrpto crisis, liquidity, plunges, Polyhedras, token, ZKJ Mark June 16, 2025 0 Comments

Polyhedra’s ZKJ token plunges 83% after liquidity crisis

The native token of Polyèdra, ZKJ, fell more than 83% on June 15, reaching a hollow of $ 0.3073, after a series of abnormal transactions and mass liquidity withdrawals linked to its associated token, Koge.

According to a post of June 15 on X by Polyèdra, the incident came from “abnormal transactions on the chain” involving the ZKJ / Koge trading pair. KOGE, published by a group known as 48 club DAO, operates in close connection with ZKJ through shared liquidity pools and was encouraged by Binance alpha points program.

Dear Polyèdra community – We want to emphasize that the fundamental principles of Polyèdra remain strong, both in our technology and in the incredible support of our community. We continue to build and advance as planned.
Today’s drop in prices was caused by a series of abnormal …

– Polyhedra (@polyhedrazk) June 15, 2025

Because tokens are regularly exchanged against each other, their price dynamics are closely linked. A chain reaction started when the merchants converted Koge into a large quantity while the liquidity of the Koge / USDT pool was dried up. This flooded the ZKJ / USDT pool.

The main holders drew a large part of Koge and the ZKJ of the chain pools, according to Binance, starting a “liquidation cascade” which caused the prices of the two assets falling. Koge went from $ 62 to $ 24 while ZKJ increased from almost $ 2 to $ 0.30.

Chain analysts related The price collapses for wallets grabbing alpha points. A portfolio withdrew more than 60,000 koge, around $ 3.7 million and 273,000 ZKJ, around $ 530,000, while two others liquidated $ 5 million. The rush was further reinforced with a planned unlocking of 15.5 million ZKJ tokens on June 19, which will add about $ 10 million in potential sales pressure to the already stressed markets.

Community reports indicate that the Koge / USDT swimming pool was drained first, leaving the holders unable to leave their positions. With the liquidity of KOGE / USDT disappeared, investors rushed to exchange in ZKJ using the KOGE / ZKJ pool still functional. The resulting point in ZKJ’s acquisitions overwhelmed its attachment (USDT) Pair, leading to a chain reaction that prompted ZKJ to record stockings.

Despite the collapse, Polyède insisted fundamental Stay strong and he performs a complete examination of the incident. Binance replied by adjusting the rules of the alpha points. From June 17, transactions between alpha tokens like Koge and ZKJ will no longer count for user points total, a movement intended to limit similar imbalances.

Binance is aware that ZKJ and Koge have experienced significant price volatilities and our first results indicate that developments are the result of major chain liquidity holders and liquidation cascade on the market.

In order to maintain market equity and … pic.twitter.com/o89hprvaqz

– Binance (@binance) June 15, 2025

Club 48 has not commented publicly from the crash, although it had already done it disclosed That Koge was fully diluted at launch and has declared any commitment to restrict tokens sales. DAO members expressed concerns, accusing the bad planning team and the lack of transparency.

A bullish scenario according to collapse will depend on Polyède’s ability to quickly restore market stability and give an overview of its liquidity structure and its token utility. The reconstruction of the confidence and the slowdown in the sale may be possible with a detailed mortem post and structural changes such as better isolation between the Koge and ZKJ markets.

But if investors’ confidence continues to drop, a lowering result can occur, especially since another big unlocking of ZKJ token is scheduled for later this week. If there is no clear solution, the sale of pressure may persist and prices can stabilize, which possibly damaged ZKJ’s reputation.