Edel Finance testnet has 35,000 users, and whales have swept up 1.26 million EDEL in just two days.

Edel Finance’s growth momentum continues to accelerate. According to the latest news, its testnet user count has surpassed 35,000, and on-chain data shows that one address used 12 ETH (about $38,000) in the past two days to purchase 1.26 million EDEL tokens, with total profits reaching $468,000. These figures reflect ongoing market attention to this Base chain project, which is not scheduled to launch until November 2025.

Signals Behind Accelerating User Growth

Edel Finance is a money market protocol on the Base chain. In less than two months since its launch, the number of users has reached 35,000. The recent growth trajectory clearly indicates the project’s popularity:

The rapid increase in user numbers usually signifies two things: either the project’s practical application value is being validated, or market sentiment towards such projects is rising. The change in the number of EDEL token holders also illustrates this—growing from 8,727 to 19,766 within three days, a 126% increase, indicating continuous influx of new users.

On-Chain Whale Buying Behavior Worth Noting

Latest Large Purchase

The address that bought 1.26 million EDEL in two days has accumulated a profit of $468,000, which speaks volumes. Continuous buying by profitable addresses is often seen as a positive signal of market participants’ confidence in the project’s prospects.

Historical Trading Patterns

Looking back at the January 6 transaction, whale address dtht purchased 2.29 million EDEL with $65,000 USDC, with a total asset value of about $2.4 million. This indicates that large investors are actively participating in EDEL trading, rather than engaging in one-off speculative actions.

Increased Market Participation

These on-chain transactions show that EDEL attracts not only retail investors but also participants with larger capital. Such multi-layered participation benefits the project’s liquidity and ecosystem development.

Token Performance and Market Status

According to the latest data, EDEL is currently priced at $0.025057, with a market cap of approximately $12.48 million. The price trend shows a 19.08% decline over 24 hours, but a 69.84% increase over 7 days, indicating high recent enthusiasm for this project.

It is important to note that EDEL’s circulating supply is about 498 million tokens, with a total supply of 1 billion tokens, and roughly 50% of tokens are not yet in circulation. This supply structure could impact the price in the future.

Issues Worth Monitoring

Rapid project growth is positive, but several questions should be considered:

• How active are testnet users? Will this growth trend sustain after mainnet launch?
• Does user growth correspond to actual trading volume and ecosystem activity?
• What is the project’s core competitive advantage, and can it maintain this level of attractiveness?

Summary

Edel Finance has achieved rapid growth from zero to 35,000 users in just two months, attracting attention from multiple on-chain participants, including profitable addresses. This indeed reflects market demand for such Base chain money market protocols. However, the project’s long-term prospects still need validation through real-world application. Investors should recognize the growth potential but also remain cautious of price volatility—after all, the recent price fluctuations of EDEL clearly demonstrate the risks involved.