Sahara Clarifies Price Volatility: Large Transaction Was Recharge for Established Cross-Chain Bridge, Team or Investor Tokens Not Sold

BlockBeats News, June 9th, Sahara AI issued a statement regarding the abnormal price fluctuation of the SAHARA token, confirming that the distribution of team and investor wallets on the chain was not affected at all. No team or investor tokens were sold or transferred. The transaction that was pointed to as the cause of today's price fluctuation was a pre-arranged deposit by the team into the Chainlink CCIP cross-chain bridge contract to provide liquidity for its recently launched cross-chain bridge, unrelated to market fluctuation. The transfer of 6 billion SAHARA tokens was planned, and the cross-chain bridge is operating as designed. An additional 1.5 billion tokens are pending addition to provide extra liquidity.

According to HTX market data, SAHARA experienced a rapid 50% drop to $0.03468 yesterday evening, causing its market cap to be "halved" to $106 million.