Data: DEXE has dropped 96.8% in 11 days, Ceffu transferred 797,900 DEXE to Binance, possibly related to DWF Labs

According to on-chain analyst Ai Yi's monitoring, DEXE reached an all-time high of $49.432 on July 12, began to decline on July 13, and on July 21, the maximum single-day drop reached 88%, with the price falling from $46.93 to $5.648; within 11 days, the decline reached 96.8%, with the price dropping from $49.423 to $1.56.

Ai Yi stated that the large capital flows on-chain are primarily from CEX hot wallets, and no anomalies were found except for Ceffu. The custody platform Ceffu has cumulatively transferred 797,900 DEXE to Binance since July 13, divided into 6 transactions, with a total value of $6.15 million, making it the only entity outside of exchanges to transfer over a million dollars in this token.

Ai Yi mentioned that due to the Ceffu MirrorX mechanism, DEXE held in Ceffu will generate a 1:1 mirrored position on the exchange, and on-chain asset transfers will be automatically settled afterward; if this mechanism is used for pre-trading, the 797,900 DEXE would correspond to an actual value of $39.44 million. Ai Yi further stated that public information does not show that the DEXE project party has entrusted the tokens to Ceffu, with most tokens stored in the DAO treasury and team-related lock-up contracts; in the official DEXE partnership list, Falcon has supported DEXE as collateral assets for the platform, and Falcon's asset custody institution includes Ceffu, and Falcon Finance is associated with DWF Labs, which is also on the DEXE partner list. Ai Yi stated that the above conclusions are drawn based on on-chain data and public clues, and does not rule out the possibility of related situations involving the project party or other market makers.