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Polyhedra: Abnormal On-Chain Transactions Detected in ZKJ/KOGE Trading Pair Today, Team Closely Monitoring
Polyhedra posted on the X platform stating that today's price drop was caused by a series of abnormal on-chain transactions in the ZKJ/KOGE trading pair within a very short period. The team is closely monitoring the situation and will share more information as soon as possible.
However, it is important to emphasize that Polyhedra's fundamentals remain unaffected, and the project will continue to move forward as planned.
Polyhedra posted on the X platform stating that today's price drop was caused by a series of abnormal on-chain transactions in the ZKJ/KOGE trading pair within a very short period. The team is closely monitoring the situation and will share more information as soon as possible.
However, it is important to emphasize that Polyhedra's fundamentals remain unaffected, and the project will continue to move forward as planned.
Data: $236 Million in Liquidations Across the Network in the Past 24 Hours
According to Coinglass data, liquidations across the entire network reached $236 million in the past 24 hours, with long positions accounting for $167 million and short positions for $68.3 million. Among these, Bitcoin long liquidations totaled $9.68 million, while Bitcoin short liquidations reached $18.05 million. Ethereum long liquidations amounted to $22.43 million, and Ethereum short liquidations were $16.27 million.
According to Coinglass data, liquidations across the entire network reached $236 million in the past 24 hours, with long positions accounting for $167 million and short positions for $68.3 million. Among these, Bitcoin long liquidations totaled $9.68 million, while Bitcoin short liquidations reached $18.05 million. Ethereum long liquidations amounted to $22.43 million, and Ethereum short liquidations were $16.27 million.
Analyst: Consecutive Days of Declining Alpha Trading Volume on a Certain Exchange May Trigger Tonight’s KOGE and ZKJ Sell-off
On-chain data analyst Ai Yi (@ai_9684xtpa) published a post providing further analysis of tonight’s KOGE and ZKJ flash crash events: 1. Why dump KOGE before ZKJ? The main reason may be that ZKJ has contracts, so shorting on exchanges can be synchronized with dumping on-chain; in addition, from a liquidity perspective, ZKJ’s liquidity is relatively better, so crashing its price would require more capital. 2. Why did the dumping start at 8:30, but the K-line performance of both tokens was delayed? Both ZKJ and KOGE are known for good liquidity and stable prices, so their LP ranges are very narrow. When a large amount is dumped through this range and there isn’t enough capital to absorb the sell orders, a flash crash becomes inevitable. As LPs see the price drop, panic withdrawals occur, creating a vicious cycle that further drives the price down; as for those LPs who haven’t exited yet, they’re now stuck holding ZKJ and KOGE. 3. Why choose to dump tonight? Ai Yi speculates that the continuous decline in Alpha trading volume over several days may have been a trigger. The exit of large LPs is also a “race to the exit,” especially since there are few true believers among ZKJ and KOGE holders—most are just chasing yields. In this case, the collapse of the whole structure only needs one supporting pillar to break.
On-chain data analyst Ai Yi (@ai_9684xtpa) published a post providing further analysis of tonight’s KOGE and ZKJ flash crash events: 1. Why dump KOGE before ZKJ? The main reason may be that ZKJ has contracts, so shorting on exchanges can be synchronized with dumping on-chain; in addition, from a liquidity perspective, ZKJ’s liquidity is relatively better, so crashing its price would require more capital. 2. Why did the dumping start at 8:30, but the K-line performance of both tokens was delayed? Both ZKJ and KOGE are known for good liquidity and stable prices, so their LP ranges are very narrow. When a large amount is dumped through this range and there isn’t enough capital to absorb the sell orders, a flash crash becomes inevitable. As LPs see the price drop, panic withdrawals occur, creating a vicious cycle that further drives the price down; as for those LPs who haven’t exited yet, they’re now stuck holding ZKJ and KOGE. 3. Why choose to dump tonight? Ai Yi speculates that the continuous decline in Alpha trading volume over several days may have been a trigger. The exit of large LPs is also a “race to the exit,” especially since there are few true believers among ZKJ and KOGE holders—most are just chasing yields. In this case, the collapse of the whole structure only needs one supporting pillar to break.
Israeli official: Mediation efforts to halt the war with Iran have already begun
According to Israeli media outlet Yedioth Ahronoth, an Israeli official stated that mediation efforts to halt the war with Iran have already begun. (Jin10)
According to Israeli media outlet Yedioth Ahronoth, an Israeli official stated that mediation efforts to halt the war with Iran have already begun. (Jin10)
Today's On-Chain Capital Flows: Ethereum Sees Net Inflow of $153.1 Million
According to data from Artemis, today Ethereum saw a net inflow of $153.1 million, while Solana recorded a net inflow of $3.5 million; Base experienced a net outflow of $153.7 million, and Arbitrum had a net outflow of $3 million.
According to data from Artemis, today Ethereum saw a net inflow of $153.1 million, while Solana recorded a net inflow of $3.5 million; Base experienced a net outflow of $153.7 million, and Arbitrum had a net outflow of $3 million.
ZKJ surges over 80% in the past hour, 24-hour decline narrows to 77%
According to market data, ZKJ has surged over 80% in the past hour, with its market capitalization rebounding to $140 million. The 24-hour decline has narrowed to 77%.
According to market data, ZKJ has surged over 80% in the past hour, with its market capitalization rebounding to $140 million. The 24-hour decline has narrowed to 77%.
A user lost their mnemonic phrase, resulting in a loss of over 3,060,000 AB
On June 15, it was reported that following the successful listing of AB on a certain CEX, trading activity surged significantly. However, the community also received some unfortunate news: a user reached out to the official team for help, stating that their wallet (address: NEW182MerALZsCfbnMaUodWhsAKu2v1EkYC2CrK) originally held 30,604,073 AB, but they could no longer access the wallet due to losing their mnemonic phrase. The official team promptly offered assistance and confirmed that the wallet indeed contained a large amount of AB. However, due to the decentralized nature of the wallet architecture, if a user loses their mnemonic phrase and has no backup, no one (including the project team) can restore access to the wallet. It is recommended that users with significant asset value consider using a hardware wallet or deploying a multisig solution to mitigate asset risks.
On June 15, it was reported that following the successful listing of AB on a certain CEX, trading activity surged significantly. However, the community also received some unfortunate news: a user reached out to the official team for help, stating that their wallet (address: NEW182MerALZsCfbnMaUodWhsAKu2v1EkYC2CrK) originally held 30,604,073 AB, but they could no longer access the wallet due to losing their mnemonic phrase. The official team promptly offered assistance and confirmed that the wallet indeed contained a large amount of AB. However, due to the decentralized nature of the wallet architecture, if a user loses their mnemonic phrase and has no backup, no one (including the project team) can restore access to the wallet. It is recommended that users with significant asset value consider using a hardware wallet or deploying a multisig solution to mitigate asset risks.
KOGE Team: Never Promised Not to Sell Treasury Holdings
The KOGE team’s 48Club stated yesterday, “KOGE has been fully released from day one, with no lock-up. Additionally, 48Club has never made any commitment in any form not to sell treasury holdings. It’s just like how a CEX has never promised not to sell BNB. Please do your own research and be aware of the risks.”
The KOGE team’s 48Club stated yesterday, “KOGE has been fully released from day one, with no lock-up. Additionally, 48Club has never made any commitment in any form not to sell treasury holdings. It’s just like how a CEX has never promised not to sell BNB. Please do your own research and be aware of the risks.”
ZKJ Team: The Sharp Drop in Token Price Is Due to a Series of Abnormal On-Chain Transactions in the ZKJ/KOGE Trading Pair
The ZKJ team Polyhedra stated that today's price drop was triggered by a series of abnormal on-chain transactions on the ZKJ/KOGE trading pair within a very short period of time. Our team is closely reviewing the situation and will share more information as soon as possible.
The ZKJ team Polyhedra stated that today's price drop was triggered by a series of abnormal on-chain transactions on the ZKJ/KOGE trading pair within a very short period of time. Our team is closely reviewing the situation and will share more information as soon as possible.