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edgeX EDGE Token Plunges from $1.12 to $0.32 in 1 Hour; Platform Launches Up to $100K USDC Compensation Plan

GateNews
Price VolatilityDerivatives DataToken Events
EDGE-3.09%
USDC-0.01%
According to ChainCatcher, edgeX's EDGE token plunged from $1.12 to approximately $0.32 in roughly 1 hour due to concentrated selling during a low-liquidity period, compounded by high-leverage long liquidations and coordinated CEX activity. The platform confirmed its team addresses remained unchanged during the event. edgeX will increase market-making efforts and launch a $200,000 USDC bounty to track related addresses. For users who suffered realized losses from EDGE long position liquidations or stop-loss triggers on edgeX Perp V1/V2 during a specified time window, the platform will provide compensation up to $100,000 per user: 50% in USDC within 7 days of approval, and 50% in EDGE tokens (valued at 7-day TWAP) paid in the first week of April 2027.
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