Key Takeaways:
- DEXE market cap surged roughly 600% over four months to near $23.50
- Whale transactions above $100,000 hit an all-time high of 18
- Active addresses reached a record 298, with 86 new wallets added
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DEXE surges 600% in 4 months as whale transactions hit record highs
DeXe's DEXE token hit 18 whale transactions and 298 active addresses, both all-time highs, as market cap surged roughly 600% in four months, Santiment data show.
"The latest on-chain data appears to be supporting the price rally rather than reacting to it," Santiment, the on-chain analytics firm, said in a post on X. "New wallets are entering the network at the fastest pace seen in months, while active participation and whale transactions have both reached record levels."
The network added 86 new wallets, its strongest wallet growth in seven months, while spot accumulation accelerated as more tokens moved off exchanges, according to Santiment. DEXE traded near $23.50 as of Thursday, up 36% this month and 4% over the past 24 hours, outperforming a broader market sell-off that pushed Bitcoin briefly to $59,000.
The rally has been fueled by growing interest in DeXe's DAO governance infrastructure and speculation about broader protocol adoption, Santiment said. MEXC, the crypto exchange, recently added DEXE to its futures market with leverage of up to 50x. CryptoQuant analyst CW said DEXE continues to test its "final major sell wall," and a breakout above that resistance zone would likely coincide with a new all-time high, with little overhead resistance remaining.
This article is for informational purposes only and does not constitute investment advice.
