Polyhedra Network's ZKJ token experienced a significant drop of 83% on June 15, 2025, attributed to a series of abnormal on-chain transactions within the ZKJ/KOGE trading pair. This sudden plunge caused the token's market cap to decrease by nearly $500 million in just nine hours. Initially, the ZKJ token fell from $2.27 to $0.31, after a brief recovery attempt. Binance indicated that large token holders' actions led to a liquidity crisis, resulting in a liquidation cascade. Some speculated that the price collapse was tied to a recent token unlock, although major analytics sources have not validated these claims. Polyhedra announced that it was reviewing the situation and assured users that their funds were safe. Following this event, Binance also revealed changes to its Alpha Points token rewards program to promote stability and mitigate systemic risks. The ZKJ token, used for governance and utility within the Polyhedra ecosystem, faces ongoing volatility as users await further updates on this unsettling event.

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