Sahara AI Says Bridge Liquidity Restored After Token’s 50% Plunge
Summary
- Sahara AI said it had restored Ethereum-side liquidity in its CCIP bridge pool following token price volatility, and that transfers are now operating normally.
- Sahara AI said withdrawals to Ethereum surged a day earlier, draining the pool and delaying some transactions, but any transfers still pending will be processed soon.
- Sahara AI said the large token transfer cited as the cause of the price plunge was a pre-scheduled move to supply liquidity to Chainlink (LINK)’s CCIP bridge contract for team and investor tokens.
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Sahara AI said it has restored liquidity in its bridge pool following recent volatility in its token price.
In a post on its official X account on June 10, Sahara AI said it had replenished Ethereum-side liquidity in its Cross-Chain Interoperability Protocol, or CCIP, bridge pool. Transfers are now operating normally.
The company said withdrawals to Ethereum surged on June 9, draining the pool and delaying some transactions. Any transfers still pending will be processed soon, it added.
Sahara AI’s token plunged more than 50% a day earlier. The company said a large token transfer cited as the cause of the price swing was a pre-scheduled move to supply liquidity to Chainlink’s CCIP bridge contract for team and investor tokens.
According to CoinMarketCap, Sahara AI was trading at about $0.018 as of 3:30 p.m. Korea time on June 10, up 13.06% from a day earlier. It was still down about 45% from a week earlier.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
