The myth of 80 billion in trading volume plummets at light speed, crashing through 1.1 dollars: From the night of June 1, 2026 to the early morning of June 2, the top Perpetual DEX star edgeX, claimed to be backed by Amber Group and strategically invested in by Circle, faced its most devastating "dark moment" since its inception. Its native token $EDGE plummeted more than 70% from around 1.1 dollars to nearly 0.3 dollars without any warning. This sudden collapse instantly triggered a series of liquidations for long positions worth 2.8 million to 5.2 million dollars across the network.
24-hour trading volume surges 50%, official "external manipulation theory" attacked by the community: After the collapse, the trading volume of $EDGE skyrocketed to 97 million dollars, directly swapping nearly half of its circulating market value! Despite the official rapid response claiming "external collaborative manipulation, malicious dumping by wallets," the Chinese KOL circle and the international community were already full of grievances. One hour before the crash, a mysterious address precisely deposited 1.33 million dollars' worth of $EDGE, turning everyone’s focus to the "uncollaborated sell-off by market makers" or a trust crisis over large internal unlockings.
When CEX-level narratives devolve into a high-risk execution ground, smart money has built defenses in Aster: Regardless of how appealing edgeX's claimed "sub-10ms latency order book" is, in the face of a tsunami of lost liquidity and trust, spot trading has long become a bleeding scalpel. The most vigilant hunters do not blindly pick bottoms amidst the ruins but instead shift to the Aster platform, transforming their principal into 9.6% annualized interest USDF margin, utilizing the world’s first Chase Order feature to coldly capture deadly opportunities on the volatile right side of $EDGE at no fees!
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1. Deep Investigation: What story of a CEX killer was edgeX originally meant to tell?
Before this flash crash occurred, edgeX was regarded as the number one seed capable of competing with Hyperliquid and Aster in the Perp DEX track.
💡 core product line and platform vision claimed by edgeX:
CEX-level ultra-fast order book: Unlike traditional AMM models, edgeX, based on its self-developed EDGE Stack infrastructure, focuses on ultra-low execution latency of sub-10ms, capable of providing on-chain depth and minimal slippage comparable to centralized exchanges.
Luxury endorsement from top institutions: The project was deeply incubated by top crypto finance institution Amber Group at the end of 2024 and garnered strategic investment from Circle Ventures, integrating USDC and establishing institutional-level deposit and withdrawal channels.
Huge business fundamentals: Before the launch of token $EDGE, the platform claimed its cumulative trading volume had surpassed 80 billion dollars, serving over 300,000 users, with strong expectations for self-funding and token repurchase.
However, this myth of being "the fastest on-chain, most like CEX" faced hard flaws in chip concentration and transparency and was smashed to pieces in just a few hours.
2. A vertical drop of 70%: Restoring the thrilling "bloody dawn" of $EDGE
History does not repeat, but it always rhymes. From RAVE to LAB, and now to $EDGE, the script of liquidity trampling always unfolds in the dead of night:
Deadly one hour: On-chain data shows that, one hour before the massive crash on the night of June 1, several mysterious addresses suddenly reversed-deposited $EDGE worth 1.33 million dollars to the exchange. Subsequently, panic selling surged like a tsunami, with the price kicked from 1.1 dollars down to 0.3 dollars.
The official response and community schism: Although the official urgently issued a statement, shouting "SpotVault contract is safe, not a hacker attack, it belongs to external collaborative market manipulation." The community did not buy it at all. Because the project had previously faced criticism for "shutting down comments" and "insufficient transparency" during the TGE period, this plunge directly ignited anger in the Chinese community.
KOL spicy reviews: The Chinese crypto community bluntly stated, "when the price goes up, old ladies use the stairs, when it goes down, they jump off," and "there’s no credibility and absolutely no desire to buy the dip." Meanwhile, international English KOLs pointed out more calmly that this was most likely due to market makers (MM) unwinding (liquidating) in advance without coordination, or malicious selling by early investors causing a trust collapse.
Although the price has struggled back to the 0.73 to 0.80 dollar range, the up to 40% massive fluctuations in 24 hours indicate that both bulls and bears are engaged in a final close-quarters battle in this bloody execution ground.
3. Refusing to be a casualty on the left side!
In the face of such a high-risk target like $EDGE, which has a 24-hour turnover rate of 50% and trust at freezing point, any blind spot buying or hard shorting from the left side may directly become fuel for market makers’ dumping.
4. Locking down core rules in the eye of the storm: Securing a dedicated 10% cash-back shield
Market makers watch from the shadows as retail investors panic and cut losses. But as long as we lock down the rules on the right, we can reverse-drain the liquidity from the house. In today’s volatile moment, the smartest move is just one step:
🎁 [AiCoin Exclusive $EDGE Crash Storm Thunder Strike Pass] On this day of 50% turnover and market maker movements being a mystery, bind invitation code e92bF2 to sign in to Aster through the official channel below, directly locking in privileges:
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"The myth of 80 billion in trading volume cannot conceal the ugliness of a 70% flash crash. edgeX, through a large-scale trampling event late at night, has once again given all network traders a vivid lesson on the risks of 'Perp DEX transparency deficit.' With market maker sell-offs and community trust already collapsed, any spot buying is a gamble with the unknown unlocking chips hanging over one’s head. The truly skilled on-chain hunters have long gone to Aster to transform their principal into 9.6% annualized interest USDF, calmly monitoring the breaking point at 0.7 dollars with Chase Order technology. Heeding the bloody lessons from the community, hold on to your Aster weapons, let us decisively complete the reverse hunting of high-risk tokens in the ruins on the right!"
The ultimate game between edgeX and traditional market makers has already begun; are you ready to see Chase Order automatically help you intercept precise shorts in Aster's first-class cabin and cut off the scissors of the market makers to grasp the century dividend?
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Opportunities always arrive when you think the end is near; Aster knocks on the door again.
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