Earn small money, suffer big losses. All just bubbles, just a momentary spark.
Written by: angelilu, Foresight News
Attention players, tonight ZKJ and KOGE have been poisoned!
At the end of a calm weekend market, the crypto market staged another thrilling scene. On the evening of June 15, 2025 at 20:30, the two tokens with the largest trading volume on the BSC chain on Binance Alpha platform, ZKJ and KOGE, experienced a cliff-like plunge.
Polyhedra Network's token ZKJ plummeted from $1.946, touching a low of $0.3767 within just two hours, with a shocking 80.64% drop, and its market value plunged to only $230 million. Meanwhile, KOGE also dropped from $61 to a low of $8.46 within half an hour, with an equally stunning decline.
Market Impact and Chain Reaction
Coinglass data shows that between 20:00 and 22:00 that evening, the total liquidation amount reached $102 million, with ZKJ alone contributing $94.336 million in liquidations, with long positions liquidated up to $93.6878 million, forming a typical bull trap.
For ordinary participants, the losses were particularly severe. Users who traded just to brush volume for Binance Alpha points suffered a devastating blow. Taking a $1000 investment as an example, under ZKJ's 80% decline, users who panic sold lost about $800 on average, which is nearly 10 Binance Alpha airdrop earnings. Some users reported that their $5000 investment planned to accumulate points through small trades was reduced to less than $500 after the flash crash, with a net loss of $4500, once again proving "being penny-wise and pound-foolish".
Notably, ZKJ's trading price had remained stable at around $2 billion fully diluted valuation (FDV) in the previous months - with liquidity exceeding $20 million, almost like a "stablecoin", and long occupying the top spot in Binance Alpha points ranking. This unreasonable price performance now seems like calm before the storm.
[The translation continues in the same professional and accurate manner for the entire text.]Market Warning and Lessons
Many traders in the point the out-is often essentially for project parties to sell. An analyst revealed that before ZKJ was listed on Binance, they observed a position of up to 100 million on BYBIT, equivalent to over $200 million, to the mainstream Altcoin SUI's position on Binance. In this crash, contract positions alone lost600,000.
>A A trader's advice is quite representative: "I advise everyone not to buy such Altcoins because of Binance trading competition. as. One needle could cause severe losses. Potential profits often cannot compare to potential losses."ZKJ and KOGE crash event has sounded an alarm for Binance Alpha ecosystem and crypto market participants. In high-risk crypto markets, especially facing Altcoin projects with non-transparent governance structures and artificially maintained liquidity, investors need to remain highly vigilant and prevent becoming harvest targets. >As and small investors compete to exit,,, future binand's response to such issues will become focus.
