{"id":54313,"date":"2025-06-16T13:37:02","date_gmt":"2025-06-16T13:37:02","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/polyhedras-zkj-token-collapses-following-abnormal-on-chain-activity\/"},"modified":"2025-06-16T13:37:02","modified_gmt":"2025-06-16T13:37:02","slug":"polyhedras-zkj-token-collapses-following-abnormal-on-chain-activity","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/polyhedras-zkj-token-collapses-following-abnormal-on-chain-activity\/","title":{"rendered":"Polyhedra\u2019s ZKJ token collapses following \u2018abnormal on-chain activity\u2019"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/Crypto-Market-Crash-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/Crypto-Market-Crash-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/Crypto-Market-Crash-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/Crypto-Market-Crash-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>The Polyhedra Network (ZKJ) token has plunged 91% after abnormal on-chain activity.<\/li>\n<li>Binance has blamed whale exits and a liquidation cascade for the token crash.<\/li>\n<li>The upcoming June 19 token unlock may trigger further price drops.<\/li>\n<\/ul>\n<p>The cryptocurrency market has once again been rocked by a dramatic price collapse, this time involving Polyhedra Network\u2019s native token, ZKJ.<\/p>\n<p>The ZKJ token has suffered an unprecedented decline of over 91% in less than 24 hours, sending shockwaves across exchanges and drawing scrutiny from regulators, investors, and analysts alike.<\/p>\n<p>ZKJ, which had been trading steadily around $2.00 for over a month, crashed to a record low of $0.2676 on June 15, 2025, wiping out nearly $500 million in market capitalisation.<\/p>\n<p><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone size-full wp-image-314923\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2025\/06\/ZKJ-token-crash.jpg\" alt=\"ZKJ token crash\" width=\"1447\" height=\"673\"\/><\/p>\n<p>This price crash has raised serious concerns over liquidity risks, tokenomics structure, and the influence of large holders in decentralised finance.<\/p>\n<h2>What caused the sudden Polyhedra Network (ZKJ) price collapse?<\/h2>\n<p>The ZKJ price collapse began early on June 15 when Polyhedra Network posted on X (formerly Twitter) that a wave of \u201cabnormal on-chain transactions\u201d had struck the ZKJ\/KOGE trading pair.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Dear Polyhedra community \u2014 we want to emphasize that the fundamentals of Polyhedra remain strong, both in our technology and in the incredible support from our community. We\u2019re continuing to build and push forward as planned.<br \/>Today\u2019s price drop was caused by a series of abnormal\u2026<\/p>\n<p>\u2014 Polyhedra (@PolyhedraZK) <a href=\"https:\/\/twitter.com\/PolyhedraZK\/status\/1934262115143200903?ref_src=twsrc%5Etfw\">June 15, 2025<\/a><\/p>\n<\/blockquote>\n<p>Within hours, the token\u2019s price plummeted by more than 83%, as market participants scrambled to understand what had triggered the meltdown.<\/p>\n<p><a href=\"https:\/\/coinjournal.net\/exchanges\/binance\/\">Binance<\/a> later weighed in, attributing the collapse to a liquidity crisis stemming from large-scale withdrawals involving KOGE, a token closely paired with ZKJ.<\/p>\n<p>According to the exchange, these withdrawals created a \u201cliquidation cascade\u201d as major wallets began offloading their holdings.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Binance is aware that ZKJ and KOGE have experienced significant price volatilities and our initial findings indicate the developments were a result of large holders removing on-chain liquidity, and liquidation cascade in the market.<\/p>\n<p>In order to maintain market fairness and\u2026 <a href=\"https:\/\/t.co\/O89hpRVaQz\">pic.twitter.com\/O89hpRVaQz<\/a><\/p>\n<p>\u2014 Binance (@binance) <a href=\"https:\/\/twitter.com\/binance\/status\/1934293977668194694?ref_src=twsrc%5Etfw\">June 15, 2025<\/a><\/p>\n<\/blockquote>\n<p>As KOGE\u2019s USDT pool was drained, traders moved their assets into the ZKJ\/USDT pool, which quickly became overloaded.<\/p>\n<p>This sudden shift overwhelmed the system, accelerating the sell-off and deepening the decline in ZKJ\u2019s value.<\/p>\n<h2>Massive withdrawals and whale activity<\/h2>\n<p><a href=\"https:\/\/twitter.com\/ai_9684xtpa\/status\/1934249059801584050\">Blockchain data<\/a> has revealed several wallets that had been actively farming Alpha Points before the crash.<\/p>\n<p>One wallet alone withdrew more than $3.7 million in KOGE and $530,000 in ZKJ.<\/p>\n<p>Two other wallets combined pulled out nearly $5 million, further intensifying the downward spiral.<\/p>\n<p>These actions suggest the involvement of large holders, commonly known as whales, whose exits likely triggered cascading liquidations across leveraged positions.<\/p>\n<p>As prices tumbled, margin calls were activated, leading to forced liquidations that compounded the selling pressure.<\/p>\n<p>Although some community members have speculated about foul play, no leading blockchain analytics platform has verified such claims.<\/p>\n<p>Polyhedra, for its part, insists it is conducting a thorough review and maintains that its core technology remains unaffected.<\/p>\n<h2>Binance has altered its Alpha Points rules for ZKJ and KOGE<\/h2>\n<p>In response to the unfolding situation, Binance <a href=\"https:\/\/www.binance.com\/en\/square\/post\/06-15-2025-binance-from-june-17-trading-volume-of-alpha-token-pairs-will-no-longer-count-towards-alpha-points-statistics-25659613590697\">announced<\/a> a major change to its Alpha Points rewards program.<\/p>\n<p>Starting June 17, trades between Alpha tokens, including ZKJ and KOGE, will no longer count toward Alpha Points calculations.<\/p>\n<p>This policy shift is aimed at reducing systemic risk and discouraging concentrated trading behaviors that can lead to abrupt market failures.<\/p>\n<p>Binance\u2019s decision is being viewed as a proactive step to restore market integrity and reduce manipulation.<\/p>\n<h2>Upcoming token unlock adds to the bearish pressure<\/h2>\n<p>Further adding to investor anxiety is the <a href=\"https:\/\/cryptorank.io\/price\/polyhedra-network\/vesting\">imminent unlock of 15.5 million ZKJ tokens<\/a> scheduled for June 19.<\/p>\n<p>Valued at approximately $10 million, this unlock could flood the market with fresh supply at a time when confidence is already severely shaken.<\/p>\n<p>Given that this represents more than 5% of the current circulating supply, market analysts warn that another sharp drop could occur if holders rush to sell upon unlocking.<\/p>\n<p>The timing could not be worse for a token already reeling from its steep fall.<\/p>\n<div class=\"ad-banner  container  pt-1\" data-partner=\"bitcoinpepe\">\n        <a href=\"https:\/\/bitcoinpepe.co\/en?utm_source=coinjournal&amp;utm_medium=banner&amp;utm_campaign=header\" target=\"_blank\" rel=\"nofollow sponsored noopener\"><br \/>\n            <img src=\"https:\/\/coinjournal.net\/wp-content\/themes\/c1-base\/dist\/img\/ad\/blockovate\/en-3.png\"\/><br \/>\n        <\/a>\n    <\/div>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/polyhedras-zkj-token-collapses-following-abnormal-on-chain-activity\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) The Polyhedra Network (ZKJ) token has plunged 91% after abnormal on-chain activity. Binance has blamed whale exits and a liquidation cascade for the token crash. The upcoming June 19 token unlock may trigger further price drops. The cryptocurrency market has once [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":54314,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/54313"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=54313"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/54313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/54314"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=54313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=54313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=54313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}