BitUnix analyst: ZKJ, KOGE flash crash exposes Alpha ecological risks, warns against small coin chain killing

According to BlockBeats, on June 16th, the cryptocurrency market experienced significant volatility. ZKJ and KOGE experienced a flash crash of over 80% on the evening of June 15th, with multiple single ZKJ liquidation amounts reaching $93.68 million. Three major addresses were found on the chain to be harvested through a planned "delisting+selling" strategy, first hitting KOGE and then causing ZKJ to collapse, forming a typical long trap. There were already abnormal signals in advance: LP withdrawal, APY plummeting, brush volume decreasing, and ZKJ unlocking over 15 million tokens on June 19th, exacerbating the pressure on the bears. Analyst's suggestion: This flash crash exposes the false liquidity and opaque governance issues in the Alpha ecosystem. Avoid or reduce participation in altcoin trading that relies on Alpha points in the short to medium term. ZKJ and KOGE have lost market confidence, and without strong capital replenishment, it is difficult to rebound. Suggest stopping volume arbitrage and being wary of high FDV, stable prices, and abnormally ranked currencies. Carefully select the target and pay attention to whether Binance has adjusted its Alpha mechanism. Final reminder: 'High returns ≠ low risks, points incentivize non risk immunity'. Returning to fundamentals and risk control are the key.