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DEXE Drops 17% as Bearish Sentiment Grows

DEXE Drops 17% as Bearish Sentiment Grows

Steven Harper • Published: June 10, 2025 at 00:25 • Updated: June 10, 2025 at 00:25

The Essentials at a Glance

DEXE recorded a price drop of over 17% within 24 hours.
Despite the price decline, trading volume is rising significantly – an indication of increased market activity.
Open Interest (open positions in the derivatives market) fell by over 10%.
Spot traders continue to buy DEXE – approximately 400,000 USD were accumulated over three days.
Technical indicators suggest further downside potential.

Heavy Losses, but No End in Sight?

DEXE, the native token of the DeXe protocol, has lost over 17% of its value in the last 24 hours. This decline comes during a period of weak market sentiment and increased selling activity. However, an interesting development is emerging: despite the price drop, trading volume is rising sharply – a sign that many traders remain active.

Trading Volume Explodes – What Does It Mean?

DEXE’s trading volume rose by 763% to 168.4 million USD. Such volume spikes, accompanied by falling prices, often indicate a continuation of the downtrend. This means: many traders are selling, while others are trying to buy in at a low price.

Open Interest and Long-Short Ratio Decline

Open Interest – the total of all open derivative contracts – fell by 10.21% to 55.64 million USD. This indicates that many market participants are pulling out of trading. The long-to-short ratio is also at 50.39% in favor of the short side. This reflects a pessimistic market outlook.

Funding Rate Remains Positive – For Now

The funding rate, an indicator of market sentiment in derivatives, currently stands at 0.0035% and is thus in positive territory. This means long positions are paying a fee to short positions. As long as this value remains positive, optimism prevails. However, the rate is declining – a sign that sentiment could be deteriorating.

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Spot Market: Traders Buying Despite Price Drop

Parallel to the decline in the derivatives market, a different picture is emerging in the spot market: traders continue to buy DEXE. Around 400,000 USD have been invested in the token over the past three days. This accumulation could stabilize the price – provided it continues.

Liquidity Zones Indicate Further Downside Potential

A look at the so-called liquidation heatmap shows: below the current price level, there are large liquidity clusters – especially just above the 8.50 USD mark. Such zones often attract the price, as many stop-loss orders and liquidations are located there. This suggests a possible further decline in price.

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Our Assessment

DEXE is currently under strong selling pressure. The significant decline in open interest and the shift in the long-short ratio point to a short-term negative development. At the same time, the increased trading volume shows that traders remain active – both on the selling and buying sides. The ongoing accumulation in the spot market is a positive signal, but not enough on its own to stop the downtrend. Anyone observing or invested in DEXE should closely monitor the development of the funding rate and liquidity zones.

Sources

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