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ZKJ token price crashed over 83% in hours, wiping out nearly $500M in market cap

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Polyhedra Network's ZKJ token price crashed over 83% in hours , wiping out nearly $500M in market cap.

The crash was caused by a series of “abnormal on-chain transactions” and whale-driven liquidity withdrawal.

A 15.5 M token unlock is scheduled for June 19 , which could create massive selling pressure, crashing the crypto price further.

The crypto community also associated the upcoming token unlocks as the driving reason.