The DeXe Protocol (DEXE) has gained significant attention due to a sharp increase in its token's whale transactions. Analytics platform Santiment reports a 340% rise in such transactions over the past week.
Surge in Major Transactions
DeXe token has led the charts among cryptocurrencies for increased large transactions, surpassing projects like Nexo, OKB, Maker, and Gala. Transactions exceeding $100,000 rose by 340%, according to Santiment data.
Driving Factors for Interest
The increase in transactions is linked to recent improvements in the DeXe protocol, including the launch of an upgraded decentralized application and a new governance staking mechanism with over $300 million staked.
Price Trends and Impact
Despite the positive developments, the DEXE token price has decreased by 18%, standing at approximately $14.90 at the time of publication. The long-term impact of large transactions on price dynamics remains uncertain.
Interest in DeXe tokens has risen significantly with the increase in large transactions. Despite the price drop, the introduced improvements may sustain investor interest in the future.
