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

Planet News: According to X platform user @defi_Boo's analysis, ZKJ contract positions plummeted 85% from $200 million to $20 million, with contract trading volume exceeding Pepe. On-chain spot trading is barely over $3 million, unable to leverage effectively. The second point directly confirms no market manipulation, as ZKJ has had $100 million in contract positions since January 2025, with no data supporting external fund involvement. Generally, contract profits are not the primary method for market makers. Here's an analysis: 1. ZKJ spot selling has limited profits and involves KOGE trading pairs; 2. Contract profit size, roughly calculated at 20% of OI changes, would be $40 million from $200 million. Comparatively, for a market maker or project party, exiting with profits from OI is the optimal solution. In response, KOGE project @48ClubIan stated, "Thanks for the suggestion. Contract analysis is our business weakness, and we're indeed not good at it. I personally only follow trades on Binance, and KOGE hasn't launched contracts, so I haven't investigated this direction." For details about the KOGE token price drop incident, refer to the article "KOGE, ZKJ Netted Overnight, Binance Alpha Forced to Grow".