A major cryptocurrency meltdown unfolded yesterday as NYC token's market cap plummeted nearly 80% in a dramatic crash. On-chain analysis revealed unexplained liquidity withdrawals preceding the collapse, raising eyebrows across the crypto community. The token, associated with NYC Mayor Eric Adams, experienced what appears to be a significant liquidity event that caught many token holders off guard. Market observers are now scrutinizing the transaction patterns to understand what triggered such a sharp reversal. The incident highlights the volatility and transparency challenges inherent in crypto markets, where large-scale capital movements can reshape asset valuations in a matter of hours.