edgeX rises 11% as bulls take charge, but ONE risk remains
EDGE (edgeX) extended its rally, rising 11% amid a broader market rebound. Bullish spot market activity was key, with significant outflows from exchanges ($16.18M over a week, -$291.78K in 24 hours) reducing available supply. The funding rate rose to 0.0091%, indicating strong demand for long positions. Holder sentiment was positive (score: 4.64/10), and the number of holders increased from 18,040 to 18,210. However, key risks remain. The total value locked (TVL) in the protocol stagnated around $94.59M, suggesting new holders aren't adding significant capital. Furthermore, the Long/Short Ratio fell to 0.84, showing more short accounts than long ones among derivatives traders, signaling underlying caution. In summary, while spot accumulation and holder growth support the rally, divided derivatives sentiment and flat TVL present a risk.
ambcrypto07/18 23:02