The price of the local ZKJ token of Polhedra Network has fell over 83% in the last 24 hours following the “Abnormal Chain Operations” for the ZKJ/SOGE Trade couple.
“Today’s price decrease was caused by a series of abnormal chain processes in a very short time in the ZKJ/KOGE Ticaret couple,” the project said. post In the official X account.
ZKJ Price Drop is erased over $ 500 million in market value
ZKJ’s price fell from $ 1.98 to $ 0.317763 last day. Since then, 01:24 EST has provided a small improvement to make trading at $ 0.3258 as of Coingecko data Demonstrations. Meanwhile, SOGE is over 54% in the last 24 hours.
This ZKJ wave was deleted more than $ 500 million from the market value of the project, and the total market value decreased from approximately $ 609 million to about $ 97.521 million.
Binance qualities ZKJ collapse appears to the owners who move the coins
The leading crypto exchange investigated the Binance ZKJ event and yesterday, in an X article, the collapse was the result of the “lifting the liquidity on the chain”. This then triggered the “liquidation helmet in the market”.
Binance is aware that ZKJ and SOGE are experiencing significant price volatility, and our first findings show that developments are the result of large holders’ extraction on the chain and the liquidation helmet in the market.
To protect market justice and … pic.twitter.com/o89hprvaqz
– Binance (@binance) 15 June 2025
Both ZKJ and SOGE were traded to win alpha scores as part of Binance’s scoring system. Building Alpha Ecosystem and Binance Wallet.
Following the collapse of ZKJ/Koge Pair, Binance announced that it will set the calculation rules for the Alfa Points Jeton Awards program as of June 17th.
Binance, “June 17, 2025 starting from 00:00 starting from the UTC, the trading couples between the alpha tokens will no longer be counted to the calculation of Alfa points,” he said.
By doing so, he says that he will provide change, market justice and stability and also reduce potential “systemic concentration risks ..
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