In recent months, some altcoins listed on Binance have experienced sudden and sharp declines and have become a hot topic in the market. A new one has been added to these declines. In recent hours, there has been a major decline in Binance Alpha tokens Polyhedra Network (ZKJ) and 48 Club Token (KOGE). Binance said in a statement that the decline in Binance Alpha tokens named ZKJ and KOGE occurred as a result of large holders withdrawing their tokens, which led to a wave of liquidation in prices. After these declines, Binance announced that it made an important rule change in the Alpha program. Accordingly, Binance announced that trading volumes between Alpha tokens will no longer be included in the Alpha Score calculation. Related News: Cardano Founder Charles Hoskinson Offers $100 Million Bitcoin (BTC) and ADA Swap Proposal! Will ADA Price Drop? While this decline continues to occupy the market's agenda, an official statement came from the Polyhedra Network team. Accordingly, the team stated that the decline was caused by abnormal transactions in the ZKJ/KOGE trading pair, and said: “Dear Polyhedra community, We want to emphasize that the foundation of Polyhedra remains strong, both in our technology and the incredible support we receive from our community. We continue to build and move forward as planned. Today’s price drop was caused by a series of abnormal on-chain transactions that occurred within a very short period of time on the ZKJ/KOGE trading pair. Our team is closely monitoring the situation and will share more information as soon as possible. As always, thank you for your continued support.” Some investors attributed the price drop to a recent token unlock and accused Polyhedra of malicious intent. While there was no statement from Polyhedra on this issue, the KOGE team, 48 Club, said that KOGE had no token locking from day one and never promised not to sell treasury assets. ZKJ, which has fallen by 83% in the last 24 hours, continues to be traded at $0.34, while KOGE, which has fallen by 53%, continues to be traded at $29. Previously, there were sharp and sudden declines in altcoins listed on Binance such as Dego Finance (DEGO), LEVER, OM, ACT and TST. *This is not investment advice. Continue Reading: First Official Statement Came After Big Whale Crashed Two Altcoins! – Binance Had Changed The Rules!
