Odaily News Binance announced that it has noticed significant price fluctuations in ZKJ and KOGE recently. Preliminary investigations show that this is mainly due to large investors withdrawing on-chain liquidity and market chain liquidations. In order to maintain market fairness and stability and reduce systemic risks brought about by centralization, Binance will adjust the Alpha points calculation rules from 00:00 (UTC) on June 17, 2025. At that time, the transaction volume between Alpha tokens will no longer be included in the points calculation.

Odaily News Polyhedra posted on the X platform that today's price drop was caused by a series of abnormal on-chain transactions in the ZKJ/KOGE trading pair in a very short period of time. The team is closely monitoring the situation and will share more information as soon as possible, but we hope to emphasize that Polyhedra's foundation is still strong, which is reflected not only in our technology, but also in the strong support of the community, and will continue to advance the project construction as planned.

Odaily News OKX market shows that SOL has broken through 150 USDT and is now at 150.04 USDT, with a 24-hour increase of 3.44%. (This newsletter is generated by AI)

Odaily News According to @ai_9684xtpa’s analysis, the most important reason for smashing KOGE first and then ZKJ may be that ZKJ has a contract, and they can smash the market on the chain at the same time by opening a short position on the exchange; secondly, from the perspective of liquidity, ZKJ’s liquidity will be better, and it will cost more money to smash the market; the LP ranges of ZKJ and KOGE are extremely narrow, and if there is not enough money to take over the sell orders after a large number of smashes through this range, there will be an inevitable flash crash. When LP sees the price of the currency falling, they will also flee in panic, and the vicious cycle will cause the price of the currency to collapse further; it is speculated that the decline in Alpha’s trading volume for several consecutive days may be the cause, and the exit of huge LPs is also a game of "running fast".

Odaily News According to the analysis published by @ai_9684xtpa, the flash crash of ZKJ and KOGE tonight may be a long-planned harvesting operation. The three main addresses targeted the huge trading volume and liquidity of the two tokens in the context of Binance Alpha. Through the dual pressure of "large withdrawal of liquidity + continuous selling" tonight, ZKJ and KOGE collapsed one after another, and no one was spared. 1. Address 0x1A2...2759920:28:21 and 20:33:15 withdrew 61130 KOGE (about 3.76 million US dollars) and 273017 ZKJ (about 532,000 US dollars) of bilateral liquidity in two times20:28:58 - 20:36:57 During the period, 45470 KOGE was exchanged for ZKJ, with a value of 3.796 million US dollars. During this period, the transaction volume on the KOGE chain increased significantly20:30:57 - 20:59:49 During the period, 1.573 million ZKJ were sold in batches for USDT and BNB, with a value of 3.052 million US dollars, and the average selling price was $1.94At this time, both KOGE and ZKJ experienced a small step-by-step decline, but did not plummet. 2. Address 0x078...8bdE720:30:33 withdrew bilateral liquidity of 33651 KOGE (about 2.07 million US dollars) and 709203 ZKJ (about 1.38 million US dollars) During 20:31:10 - 20:58:18, 36814 KOGE was exchanged for ZKJ, with a value of 2.26 million US dollars During 20:35:15 - 20:37:34, 1 million ZKJ was sold, with a value of 1.948 million US dollars, and the average selling price was $1.948. The "relay dumping" of this address finally pushed the KOGE coin price to fall rapidly, which is the several consecutive large negative lines on the K-line that everyone sees. 3. Address 0x6aD...e2EBb20:41:55 received 772,759 ZKJ transferred from address 0x078...8bdE7 (the previous dumping address), with a value of 1.5 million US dollars. During the period 20:42:28 - 20:50:16, 772,000 ZKJ were liquidated. The main function of the third address is to cooperate, further catalyze the decline of ZKJ after the collapse of KOGE coin price, and complete the harvest of LPs and holders of the two tokens. Finally: The three addresses mentioned here are the main driving addresses. In fact, Aunt Ai found more "cooperating addresses" at the level of hundreds of thousands of US dollars, which will not be described in detail here. The dumping methods are similar.

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