Analysis: ZKJ flash crash may be due to profit withdrawal of contract OI, with a profit amount of about 40 million US dollars

Odaily Planet Daily News According to the analysis of X platform user @defi_Boo, the ZKJ contract position directly plummeted by 85% from 200 million US dollars to 20 million US dollars, and the contract trading volume exceeded pepe. The on-chain spot is only over 3 million US dollars, which is not enough to make a lot of money. The second point directly confirmed that there was no dog dealer involved. Since January 25, ZKJ has had a contract position of 100 million US dollars. There is no data to support the intervention of external funds. Generally speaking, contract profit is not the main means of market makers. Let me analyze it: 1. ZKJ spot smashing has limited profits and involves KOGE trading pairs; 2. The size of the contract profit is roughly calculated as 20% of the change in OI. 20% of 200 million US dollars is 40 million US dollars. In comparison, for a market maker or project party, it is the best solution to exit from oi with profit. In response, KOGE project owner @48ClubIan said, "Thanks for the suggestion. Contract analysis is our business weakness, and we are not good at it. I only follow orders on Binance, and KOGE has not launched contracts, so I did not investigate this direction." For details on the KOGE token decline incident, please refer to the article "KOGE and ZKJ closed overnight, Binance Alpha was forced to grow".