EdgeX says it is investigating 'abnormal' price drop of its token

Decentralized derivatives exchange EdgeX announced on its official X account that it is actively investigating the cause of a sudden and abnormal price fluctuation in its native token, EDGE. The team added that it will provide an update as soon as confirmed information is available and urged the community to be cautious of unverified speculation. The statement follows a sharp drop of around 70% in the token's price, which began at approximately 9:00 p.m. UTC on June 1. The price crash led to unconfirmed rumors within the community, including speculation about the EdgeX team dumping tokens or shutting down the project. After falling below $0.4 during the crash, EDGE has since partially recovered and is currently trading at around $0.64.