DEXE fell from a July 13 record near $48.91 to about $4.83 after reported team-linked transfers to Binance, with the selloff deepened by panic selling, negative funding rates and liquidations.
DeXe’s DEXE token remained under heavy pressure after an abrupt collapse that took it from above $23 intraday to around $4.83, leaving it more than 90% below its July 13 all-time high of $48.91 and down 88% over seven days. The move stood out because it came while the broader crypto market was relatively stable, pointing to token-specific selling rather than a wider market downturn. On-chain data cited by blockchain analyst morsyxbt linked roughly 625,000 DEXE, valued at about $6.2 million at the time, to wallets reportedly associated with the DeXe team and transferred to Binance on July 21. Traders interpreted the transfers and subsequent selling as a sign that large holders were cutting exposure, triggering panic selling after the token’s rapid run-up. The decline then fed into derivatives markets. Crypto market commentator Crypto__Haris said funding rates turned deeply negative as the selloff intensified and leveraged traders suffered six-figure losses, suggesting a liquidation cascade added to downward pressure. Technical indicators reflected the severity of the move, with the 7-period RSI reported near 27.02, while traders watched support around $4.00-$4.50 and resistance near $7.50 for signs of stabilization.