NewListing

On June 2, 2025, LayerEdge’s native token, $EDGEN, hit major exchanges like KuCoin marking one of the most anticipated listings of the year. Billed as a groundbreaking Layer-3 protocol leveraging Bitcoin’s security for zero-knowledge (zk) verification, $EDGEN promised to revolutionize decentralized apps with low-cost, scalable solutions. However, despite the hype, the token’s debut has left many traders and miners frustrated, with a shaky start that failed to match expectations. Here’s a breakdown of $EDGEN’s setup, its listing performance, and why the crypto community is buzzing with disappointment.
The Setup: A Bold Vision for zk-Powered Infrastructure
LayerEdge’s $EDGEN powers edgenOS, a zk-verification layer that transforms devices into verification nodes, enabling smart contracts and scalable dApps on Bitcoin’s network. With a total supply of 1 billion tokens, its tokenomics aim for long-term growth: 46% for community incentives (staking, airdrops), 22% for core contributors, 15% for R&D, 12% for the foundation, and 5% for early investors. The project’s 1M+ testnet users and 7M+ zk light nodes fueled excitement, positioning $EDGEN as a competitor to zkSync and Starknet. A Binance Alpha airdrop, offering 1,111 $EDGEN for 223+ Alpha Points, further stoked demand. Pre-market trading on Unich showed strong interest, with analysts predicting a launch price of $0.30–$0.50, and some eyeing $1 by August.
The Listing: A Rocky Start
Trading kicked off at 10:30 AM UTC on June 2, with $EDGEN/USDT pairs live across top exchanges. Volume hit $25M, driven by Binance and KuCoin, but the lack of sustained momentum disappointed traders expecting a moonshot. Gate.io’s perpetual contract launch with 20x leverage at 6:30 PM UTC added volatility, yet failed to spark a breakout. Many users called it “premium dust” at $0.03 (likely an error or pre-listing confusion), while others noted a $0.02 start, highlighting early chaos.
Why the Disappointment?
Traders and miners feel let down for several reasons. First, the airdrop process frustrated users: those with incorrect or duplicate UIDs faced manual on-chain claims, delaying access. Miners running zk verification nodes expected bigger rewards, but the 290M token unlock (29% of supply) diluted early value, with only 243.56M for community incentives. Second, the market’s broader 2.6% dip, coupled with Bitcoin’s $1B liquidation, created a tough backdrop—$EDGEN’s RSI at 58 suggests fading momentum. Third, hype outpaced reality: despite analyst predictions of $1, the token’s $0.71 peak fell short, and thin liquidity triggered sell-offs. Some users claim of it was “insane IDO sellout” raised expectations too high, leaving scalpers burned.

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