EdgeX Blamed An Outsider For The EDGE Token Crash Like ZackXBT Insider Fraud.
Decentralized foreign currency EdgeX's more than 40% drop in EDGE token is due to ‘intentional' market manipulation by an unknown outside party, onchain investigator ZachXBT has denied.
According to data from CoinMarketCap, EdgeX (EDGE) fell from roughly $1.20 to an intraday low of $0.3663 on Tuesday, a drop of around 70%. The token is currently trading at $0.6474, down about 45% from the previous day.
In a post on X, the EdgeX team acknowledged the sudden drop in its native token, telling the community that it had “noticed a sudden and irregular price movement” and was actively investigating.
In response, ZachXBT said that the EdgeX offering was controlled by a small number of insiders operating on a small float, making the token vulnerable to such incidents. They also asked the project to publicly disclose the partner organizations and market maker agreements that contributed to the disaster.
Currently, 350 million EDGE tokens are in circulation out of a maximum supply of 1 billion, meaning that more than two-thirds of the total supply has yet to enter the market. A lower float makes the stock more vulnerable to sharp price movements, especially if liquidity accumulates or large holders sell into thin order books.
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EdgeX Project says it's not hacked.
In a subsequent statement, EdgeX said the platform was not compromised in any way. “What we have identified so far points to deliberate attempts by certain external parties to control the market price of EDGE,” the project wrote as a matter of market integrity.
However, ZachXBT was not convinced. “We have investigated ourselves and found no fault, although we controlled the entire supply,” he wrote sarcastically.
Source: CoinMarketCap
EdgeX is the 16th largest DEX in terms of trading volume on the previous day, according to data from Defillama. The total value of the project is $137 million locked in (TVL).
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DEX trading volume has decreased
DEX trading volume on all chains has pulled back significantly from its peak.
The broad reversal in DEX activity makes lightly traded tokens more vulnerable to sharp moves, although the EDGE crash included project-based questions about supply, market makers and insider control.
In the year After an increase of around $45 billion in early 2025, the total decentralized foreign exchange volume decreased and was mostly stable in the first half of 2026 in a daily range of $5 billion to $20 billion, before a second peak in October 2025 to reach around $30 billion again.
DEX trading volume. Source: Defillama
The cooling movement It reflects a broader retreat in off-chain trading appetite following the turmoil in early 2025, leaving DEX markets thinner and more vulnerable to advanced price impacts.
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