DeXe Price Crash Sparks Fears for Injective and Other DeFi Tokens

The DeFi token DEXE has suffered an extreme price drop of over 85% in just a short period. After surging by more than 115% in early July, its value plummeted. On-chain data from Santiment suggests that the shift in sentiment may be attributed to the decline.

Earlier this month, DEXE's price skyrocketed following a strong rally in the crypto market. However, as of Tuesday, it had erased most of those gains, leaving investors wondering if other DeFi tokens are also at risk.