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Deep Tide TechFlow News, June 3rd, according to Cointelegraph, on-chain investigator ZachXBT accused internal personnel of the decentralized exchange edgeX of controlling almost the entire token supply, with very low circulation. As a result, the EDGE token plummeted by over 40%-70% in a single day, with the price dropping from $1.20 to $0.3663.
The edgeX project team attributed the crash to "external parties," but ZachXBT pointed out that its circulating supply is 350 million tokens, with a total of 1 billion tokens. Currently, the project's TVL is $137 million, and disputes over market manipulation between the parties are ongoing.