Sahara AI’s SAHARA token plunged by roughly 60% on June 9, triggering more than $23 million in liquidations.
The sudden crash sparked intense speculation across crypto markets, especially because it coincided with a separate incident involving the Humanity protocol, which reported a $30 million breach that sent its native H token tumbling nearly 90% in value.
What the Team Said, and What On-Chain Data Shows
According to CoinGecko, SAHARA fell sharply from about $0.034 to $0.014. In response, Sahara AI posted on X that the team was “aware of unusual market volatility” and had found no security vulnerabilities in the token contracts or platform products. They said an internal investigation was underway and promised further updates as more information became available.
On-chain observers questioned a transfer of 600 million SAHARA tokens, suggesting that movement might have driven the price swing. The team issued a follow-up post clarifying that the large transfer was a planned fill of a Chainlink CCIP bridge contract intended to provide liquidity for the protocol’s newly launched cross-chain bridge.
The team also emphasized that team and investor allocations remained untouched on-chain, stating explicitly that “no team and investor tokens have been sold or moved.” They linked to an Etherscan address so users could verify those claims and noted they were continuing to investigate the actual cause of the market movement separate from the bridge transfer.
Whether that explanation satisfies the community remains uncertain. CoinGlass data shows that in the 12 hours following the crash, $22.9 million in long positions were liquidated versus only $354,000 in shorts, indicating the bulk of losses hit traders betting on price increases.
SAHARA Is Down Roughly 90% From Its Peak
SAHARA was listed on Binance in June 2025 and reached an all-time high of $0.1605 the following month. At the time of reporting, the token was trading almost 90% below that peak, down more than 50% over the last seven days and nearly 54% over the past month.
The crash occurred shortly after a similar incident at edgeX, where the native EDGE token suddenly dropped about 71% and hit a new low. Like Sahara’s team, edgeX denied a security breach and pointed to external manipulation and liquidity issues. That explanation was publicly disputed by on-chain investigator ZachXBT.
edgeX later noted that some centralized exchanges where EDGE is listed attributed the token’s collapse at least in part to thin liquidity conditions rather than large-scale selling by the project team.