ZachXBT accuses edgeX of internal manipulation of token supply

According to a report by Cointelegraph, on-chain investigator ZachXBT accused insiders at the decentralized exchange edgeX of controlling nearly the entire token supply, resulting in very low circulation. Affected by this, the EDGE token plummeted 40%-70% in a single day, with the price dropping from $1.20 to $0.3663. The edgeX project team attributed the sharp decline to “external parties,” but ZachXBT pointed out that its circulating supply is 350 million tokens out of a total of 1 billion. Currently, the project’s TVL is $137 million, and the dispute between both sides is ongoing.