- DeXe whale transactions (>$100k) surged 340% last week per Santiment data
- Driven by new governance staking ($300M+ staked) & upgraded dApp launch
- Despite positive developments, DEXE price dropped 18% daily to ~$14.90
DeXe Protocol (DEXE) captured significant attention recently due to a reported surge in large whale transactions associated with its token. According to data from analytics platform Santiment, DeXe led crypto charts with a 340% increase in whale transactions (defined as those exceeding $100,000 in value) over the past week..
This marked rise in large transaction activity placed DeXe ahead of other notable cryptocurrencies measured by Santiment for this metric during that period, including Nexo (NEXO), OKB (OKB), Maker (MKR), and Gala (GALA
What Key Developments Are Driving Whale Interest?
A major apparent catalyst for DeXe’s growing on-chain traction is the recent launch of governance staking features within its newly upgraded DeXe decentralized application (dApp).
The protocol announced on March 31st that over $300 million worth of DEXE had already been staked through this new system. This mechanism allows users to earn staking rewards while maintaining full voting power in the protocol’s governance.
Related: Crypto Market Divided Ahead of April 2 “Liberation Day”: BTC Waits, Alts Run
The governance staking model also offers eight flexible staking tiers available across both the Ethereum and BNB Chain networks. It provides high Annual Percentage Rates (APRs) that vary depending on the user’s chosen staking duration, aiming to incentivize long-term holding.
Additionally, on March 25th, the DeXe project had announced the launch of a $5 million community subDAO initiative. This provides an opportunity for DEXE token holders and community members to actively participate in shaping the future direction and development priorities of the protocol through dedicated funding.
The initiative is particularly significant given that DeXe holds a $1.2 billion treasury, making it one of the largest DAOs in the crypto space.
Also last week, the protocol debuted its upgraded DeXe dApp platform. This new application, built by the DeXeDAOStudio team, is positioned by the project not merely as a routine update but as a foundational layer for building future “programmable economies.”
DEXE Price Analysis
Despite these apparently positive fundamental and on-chain developments, DEXE’s market price currently trades near $14.90. This marks a sharp 18% drop over the past 24 hours, according to CoinMarketCap data, reflecting broader market weakness or perhaps profit-taking.
The token faces strong immediate resistance overhead at its 20-day Exponential Moving Average (EMA), located near $17.25.
Related: DeXe (DEXE) Price Prediction 2025-2030: Will DEXE Price Hit $35 Soon?
The Relative Strength Index (RSI), a momentum indicator, currently reads near 46.29. This level suggests momentum is currently neutral-to-bearish overall. However, the recent gradient of the RSI line indicates a sharp bounce away from previously oversold levels (below 30).
This could suggest increasing underlying buyer demand emerging at these lower price points despite the recent pullback.
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