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Amber Group-Backed Perp DEX edgeX to Launch Token on March 31

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EDGE Premarket chart

The derivatives platform has already opened airdrop claims and pre-market trading ahead of its long-anticipated token generation event.

Decentralized perpetuals exchange edgeX has confirmed that the token generation event (TGE) and listing for its native EDGE token will take place on March 31.

EDGE has a total supply of 1 billion tokens. At TGE, 25% of the supply will be airdropped, with up to an additional 5% for participants in the Pre-TGE Season points program. The remaining 70% is allocated to Ecosystem & Community, Core Contributors, and Foundation.

The token is already changing hands ahead of the official launch, with pre-market trading opening on Binance on March 19. EDGE is trading around $0.70, implying a fully diluted valuation of roughly $700 million.

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EDGE Premarket chart
EDGE Premarket

The airdrop claim window also opened on March 19, according to an announcement from edgeX.

edgeX, which is incubated by Amber Group, has grown rapidly since launching in November 2024. The exchange processed roughly $4.4 billion in 24-hour trading volume across 176 trading pairs, with nearly $1.1 billion in open interest, according to CoinGecko, making it the third-largest perpetual DEX after Hyperliquid and Aster.

The TGE coincides with the platform’s transition from a single-product perp DEX to what it calls EDGE Chain, a purpose-built Ethereum Layer 2 for high-throughput financial applications.

In February, edgeX received a strategic investment from Circle Ventures alongside native USDC integration.

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Crypto World

Crypto ETP Inflows Slow to $230 Million After Fed Meeting

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Crypto ETP Inflows Slow to $230 Million After Fed Meeting

Crypto investment products maintained their inflow streak last week but momentum slowed amid ongoing Middle East tensions and a “hawkish pause” interpretation of the US Fed’s meeting.

Crypto exchange-traded products (ETPs) recorded $230 million in inflows last week, with $405 million in outflows following the Federal Open Market Committee (FOMC) meeting in the US, CoinShares reported Monday.

The inflows extended the streak to four consecutive weeks, but the latest total was sharply lower than the previous week’s $1.06 billion.

CoinShares head of research James Butterfill largely attributed the slowdown to the market’s “hawkish pause” interpretation of the US Federal Reserve’s Wednesday meeting, rather than broader geopolitical tensions.

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“The intra-week data supports this,” Butterfill said, referring to strong inflows in the first two days of the week before reversing sharply in the wake of the FOMC meeting.

Bitcoin funds lead inflows, while Ether reverses

Bitcoin (BTC) accounted for nearly all of last week’s crypto ETP inflows, posting $219.2 million in gains. Ether (ETH) funds saw $27.5 million in outflows, ending a three-week inflow streak.

Solana (SOL) saw $17 million in inflows for the seventh straight week, bringing the total to $136 million and making it one of the most popular ETP assets in recent months.

Crypto ETP flows by asset (in millions of US dollars). Source: CoinShares

Additionally, notable gains came from Chainlink (LINK) and Hyperliquid (HYPE), with inflows netting $4.6 million and $4.5 million, respectively.

Related: NYSE exchanges scrap crypto options cap on 11 Bitcoin, Ether ETFs

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Crypto ETPs have clocked $1.4 billion of inflows year-to-date, with Bitcoin ETPs leading at $1.2 billion. Total assets under management stand at $138 billion, according to CoinShares.

US spot Bitcoin ETFs account for 43% of gains

About half of Bitcoin ETP inflows were driven by the US spot Bitcoin exchange-traded funds (ETFs) last week, which ended the week with $95.2 million in inflows.

The inflows marked four consecutive weeks of gains totaling $2.2 billion, according to SoSoValue data. Despite the gains, spot Bitcoin ETFs remain underwater year-to-date, with roughly $400 million in outflows.

Weekly flows in spot Bitcoin ETFs since February. Source: SoSoValue

Similar to broader investment products, US spot Ether ETFs failed to maintain the inflow streak after three weeks of inflows, with last week’s outflows totaling around $60 million.

The US spot Ether ETFs have seen $599 million in outflows year-to-date, while broader ETPs were roughly $50 million underwater.

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