EdgeX blames ‘external party’ for token crash as ZachXBT alleges insider manipulation
Onchain investigator ZachXBT claims decentralized exchange edgeX insiders controlled nearly the entire supply with a thin float....
Key takeaways
- 1EdgeX EDGE token crashed 70% from $1.20 to $0.3663 intraday on Tuesday; currently trading at $0.6474, down 45% in one day.
- 2Only 350 million of 1 billion EDGE tokens circulate; insiders allegedly control nearly entire supply with extremely thin float.
- 3DEX trading volume declined sharply from $45 billion peak in early 2025 to $5-20 billion daily range by mid-2026, increasing token vulnerability.
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Why it matters
Indian retail investors must understand that low circulating floats and insider concentration create severe manipulation risks in DEX tokens. The broader DEX volume decline amplifies price volatility for thinly-traded tokens, making projects like EdgeX particularly risky despite their market ranking.
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