ZKJ Crypto Price Crashes Over 80% Due to Pull Liquidation

In a shocking twist for crypto investors, ZKJ, the native token of Polyhedra Network, experienced a dramatic crash of over 80% in just a few hours on June 15, 2025. The sharp decline was largely driven by large-scale liquidity removals by major holders and compounded by a significant token unlock that flooded the market with supply.

According to data from CoinMarketCap and CoinGecko, ZKJ fell from $1.90 to as low as $0.20 before slightly rebounding to hover near $0.30. This drop marks a staggering 95% decline from its all-time high of $4.01, reached in March 2024.

What triggered this crash? Analysts point to three main wallets farming Binance Alpha points that withdrew millions of dollars' worth of ZKJ and KOGE tokens. These sudden movements sparked panic selling and triggered automated trading bots, sending ZKJ spiraling downward.

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The Role of Token Unlocks and Liquidity Failures

A perfect storm hit ZKJ's market structure: a token unlock event on June 15 released 15.5 million new tokens—approximately 5.3% of the total supply—into circulation. This added over $30 million worth of ZKJ to the already fragile market.

At the same time, liquidity was mismanaged across KOGE/USDT and ZKJ/KOGE pools. The KOGE team failed to maintain USDT liquidity, forcing traders to convert their KOGE into ZKJ instead. This overwhelmed the ZKJ pool and led to a "rug from both sides," as some crypto traders called it.

The 48 Club DAO, responsible for the KOGE token, did not initially respond to the crisis. Their earlier statements about KOGE being fully diluted from day one and having no promise to avoid selling added fuel to the fire.

Community Reaction and Trust Issues

The response from the crypto community was swift and intense. Social media platforms were flooded with outrage. Many users accused both Polyhedra Network and 48 Club DAO of mismanagement and a lack of transparency.

The term "rugged from both sides" became a trending phrase among frustrated investors. The loss of trust extended beyond just the price action. Concerns emerged over the sustainability of their liquidity models and how closely the two ecosystems—ZKJ and KOGE—are linked.

This incident has severely affected investor sentiment. While many agree the underlying technology of Polyhedra Network remains strong, the crash has exposed weak points in tokenomics and liquidity strategy.

A Look at the Tech: Still Strong Underneath

It’s not all doom and gloom. Despite the price plunge, the Polyhedra Network still holds strong fundamentals. The project has built cutting-edge zero-knowledge proof (ZKP) technology. It’s trusted by major partners such as Google Cloud and Revolut.

Their zkBridge continues to support secure cross-chain communication, and zkPyTorch is now live for developers building in the privacy-focused Web3 space. The project’s EXPchain is also gaining traction among builders.

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What's Next for ZKJ?

Looking forward, investors are eyeing several key factors:

• Upcoming token unlock on June 19 – Will it bring another wave of selling?
• Volume recovery – Can buyers step in to stabilize the price?
• Team response – Will Polyhedra Network release a recovery plan or roadmap update?

ZKJ’s utility remains solid, especially in powering zkBridge, staking, and governance. The price crash may just be a detour, not the end of the road.

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Conclusion

The ZKJ crypto crash is a wake-up call about how liquidity and supply shocks can rapidly unravel a token’s market value. However, the underlying project remains technologically sound and well-connected in the blockchain space.

As always in crypto, panic is the enemy of reason. Smart investors are watching for recovery signals: trading volume, developer updates, and clarity from the Polyhedra team. If you believe in the tech, short-term dips could be seen as opportunities, not disasters.

FAQ

Why did ZKJ crash more than 80%? 

The crash was triggered by large liquidity withdrawals, a token unlock event, and a liquidity failure in KOGE/USDT pools that impacted ZKJ.

Is the Polyhedra Network project dead? 

No. Despite the price crash, the technology and partnerships remain strong. The core infrastructure is still being developed and used.

Should I sell my ZKJ tokens now? 

That depends on your investment horizon. The fundamentals are strong, but you should watch market recovery signs and upcoming unlock events.