DEXE Rebounds from Near-Death Experience with 25% Surge
The DEXE token has staged a significant recovery after its price plummeted by nearly 90% within days, wiping out a substantial portion of leveraged positions and triggering widespread liquidations across the derivatives market.
The rebound, which saw DEXE rise by around 25% over the past 24 hours to trade above $4.90, has eased immediate selling pressure but leaves many questions unanswered about its sustainability.
Derivatives data reveals a significant reset in the market, with funding rates plummeting below -0.30% during the sell-off before gradually recovering toward neutral levels, suggesting bearish conviction is beginning to ease as price stabilizes.
The crash of the DEXE price wiped out nearly 80% of outstanding futures contracts, indicating that the recent rebound has occurred after excessive leverage was flushed from the market rather than being driven by aggressive speculative buying.