EDGE (EDGE)

ALTCOIN NEWS for 2nd June: ➤ $EDGE: EdgeX investigates sharp token crash after 47% plunge. ➤ $INJ: Vulcan upgrade proposal cuts oracle costs by 90%. ➤ $HYPE: Open interest on Hyperliquid RWA perps surpasses $3B. ➤ $TRX: Hamilton Lane launches tokenized private credit fund on Tron. ➤ $XRP: Ripple joins CME’s 24/7 crypto futures launch through Hidden Road.

A decentralized exchange watched its own token crash 70% in four hours and blamed it on a mystery attacker. The supply was held almost entirely by the team and their market makers. EdgeX is a decentralized perpetuals exchange that launched in March with backing from Amber Group. The 16th largest DEX by volume. $137 MILLION in TVL and their native token EDGE is only a few months old. Yesterday EDGE was trading at $1.20. Today it touched $0.37. A 70% wipeout in a single four hour window. $6.28 MILLION in liquidations across derivatives markets. Longs took $4.83 MILLION. Shorts took $1.45 MILLION. Both sides got wiped out. The EdgeX team posted on X that the protocol was not compromised and there had been no hack, exploit, or security breach. They said the crash was caused by deliberate attempts by certain external parties to manipulate the market price. The onchain data tells a different story. EDGE's supply was held by a small group of insiders with a thin float. Onchain researchers asked EdgeX to name the counterparties and market maker agreements responsible if the team really believed an outside actor was behind it. EdgeX has not responded with names. The pattern is identical to what happened with RaveDAO in April. RAVE ran 10,000% in eleven days to a $6 BILLION valuation. The same crash setup followed. The same blame deflection followed. The same setup hit LAB. The same setup is hitting RAIN now. The 2026 playbook on these tokens is now standard. Stack supply for the project. Onboard a market maker quietly. Pump on listings. When it dumps, blame the market. Issue a statement. Promise an investigation. Never name a name. The only thing that ever changes is the ticker.

🚨 Token $EDGE has crashed by more than 47% within hours 👀 The token fell from $1.14 to $0.67, briefly reaching $0.32 before rebounding 🔥 Edge Protocol team (@edgeX_exchange) confirmed that: • The systems have not been breached • There is no exploitation or security vulnerability • No infrastructure breach has been recorded 📊 According to the team, preliminary results suggest possible external market manipulation, and the investigation is ongoing to determine the real reasons behind the collapse 📉

The EDGE token on EdgeX’s Perp DEX exchange unexpectedly plunged 70% this morning, erasing hundreds of millions of USD in market cap within a few hours. Details: https://t.co/dNYOWJpWwR https://t.co/CdEUXtdVDX

PerpDex @edgeX_exchange is accused of market manipulation after the price plunged deeply. Within the past 24 hours, the $EDGE token price has dropped more than 50% and at one point dumped straight down to about $0.37. EdgeX states that there has been no hack or security vulnerability. In terms of volume, EdgeX is currently also in the top 4 on Defillama. We need to say a few words about this issue since edgeX is a rather unsavory “play” project, and most of the traders here who joined for the airdrop ended up losing. I once traded on edgeX & received the project's meme token $MARU but did not trade further. EdgeX is heavily focused on the Japanese and Korean markets, while Vietnam ...