Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesStocksEarnInstitutionAI & More
Sahara AI token plunges 60 percent in 24 hours

Sahara AI token plunges 60 percent in 24 hours

CointurkCointurk2026/06/09 07:45
By:Cointurk

The SAHARA token, the cryptocurrency of Sahara AI, plummeted nearly 60 percent over the last 24 hours, falling to around $0.016. Earlier in the day, the token traded close to $0.035 but underwent a sharp drop, coming close to its all-time low at $0.01355. The steep decline signaled a rapid surge in selling pressure across the market.

Heavy trading volume stirs attention

According to available data, SAHARA saw approximately $215 million in trading volume within a single day. This figure was over four times its $49 million market capitalization, revealing an unusual disconnect. The vast gap between volume and market cap painted a picture of intense capital outflows and an overstressed market.

Sahara AI is recognized as a blockchain project with a focus on artificial intelligence. In a statement published on X, the project team asserted that no security vulnerabilities exist within its smart contracts or products. Notably, the team’s messaging was identical to statements shared during a major price drop from $0.07 to $0.04 on November 29, 2025.

The team clarified that all allocations in team and investor wallets remain undisturbed on-chain. Transfers causing concern were linked to a preplanned Chainlink CCIP bridge contract operation to supply liquidity for a newly launched cross-chain bridge.

600 million token transfer sparks discussion

Following the crash, several market observers pointed to a large 600 million SAHARA transfer as a likely factor in the intense selling pressure. The team responded by stating that a completed review found team and investor holdings did not move on-chain. The statement further emphasized that the transfer was part of a planned initiative to support token interoperability across multiple blockchains.

Mini glossary: Chainlink CCIP is an interoperability protocol enabling transfers of data and tokens across different blockchains. Adding liquidity to a bridge contract can facilitate smoother movement of assets across multiple networks.

In the team’s statement, Sahara AI reiterated, “All team and investor wallet allocations are completely intact on-chain. No team or investor tokens have been sold or transferred.” The company maintained that the day’s notable transfers were executed purely to provide liquidity for the newly introduced cross-chain bridge.

Losses deepen since June launch

With the latest sell-off, SAHARA has now dropped about 75 percent since launching in June 2025. The token has thus surrendered most of its value within a few months of entering the market, and the most recent cascade has highlighted its persistent weakness.

After the official statements, market participants continued to monitor on-chain activity and further bridge operations. The strikingly high volumes, the notable transfers, and the reposting of identical language used during previous declines have all fueled growing debate around SAHARA.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

Where is Muse's commercialization stuck? Barred from two-thirds of websites

Meta AI agent Muse faces commercialization difficulties: According to Jefferies' tests on hundreds of e-commerce, airline, and hotel websites, about one-third directly block Muse, another third set up access obstacles, and the core technical challenge has shifted from "Is the model good enough?" to "Can it even get in?" This friction in access will prolong the monetization timeline and objectively reinforce Google’s structural moat.

华尔街见闻•2026/10/08 02:01

From Hugging Face to Figure Robots: How NVIDIA Is Betting Billions on the Future of the AI Ecosystem

Jensen Huang is personally leading the $12.9 billion acquisition of Hugging Face and negotiating an additional $1 billion investment in Figure Robotics. To mitigate the risk of "three major customers contributing 44% of revenue," Nvidia is restructuring its landscape with transactions exceeding $140 billion, making heavy bets on humanoid robots and local AI. The core strategy is to use capital to create a "thousand-model era," supporting massive application scenarios to break the monopoly of tech giants and firmly anchor future computing power demand.

华尔街见闻•2026/10/08 01:51

Former US Treasury Secretary Rubin Warns: AI Boom May Bring Productivity Dividends But Also Poses Financial and Social Risks

Former U.S. Treasury Secretary Robert Rubin has warned that while the artificial intelligence (AI) investment boom may bring significant productivity gains, it could also create financial and social risks that the market has not yet fully priced in.

智通财经•2026/10/08 01:36