LayerEdge’s $EDGEN Token Launch: Price Decline, Community Response, and What’s Next

The much-anticipated launch of LayerEdge’s $EDGEN token on June 2, 2025, promised to be a significant milestone for the decentralized verification project. However, within 24 hours of its debut on Binance Alpha and exchanges, the token experienced a sharp decline, dropping 15.72% from its all-time high, according to CoinMarketCap data. Although it is down by almost 60% since its listing price on several exchanges, including MEXC, was between $0.05 and $0.08. 

Due to the present sentiment, it is worth delving into the details of the $EDGEN token launch, its price performance, the community’s reaction, and the broader implications for LayerEdge’s future in the Web3 ecosystem.

$EDGEN Token Launch: A High-Profile Debut on Binance Alpha

The $EDGEN launch took place on Binance Alpha, a platform that offers early access to promising Web3 projects. According to an announcement from the LayerEdge Foundation on X, over 191,000 users had verified their Binance KYC credentials using LayerEdge’s Proof of Humanity page, which leverages zkTLS for privacy-preserving identity verification.

The platform allocated 2% of its total $EDGEN supply (20 million tokens) for an airdrop to Binance users as part of the launch. Eligible participants with at least 223 Binance Alpha Points could claim 1,111 $EDGEN tokens, consuming 15 points per claim, within a 24-hour window starting at 10:30 UTC on June 2. The airdrop was designed to incentivize early adoption and reward Binance’s user base, aligning with LayerEdge’s goal of building a “People-Backed Internet.”

The $EDGEN token itself serves as the native utility token for the LayerEdge ecosystem, powering participation, node incentives, and infrastructure growth. With a total supply of 1 billion tokens, only 17.6% (176 million tokens) are currently in circulation.

$EDGEN Price Decline: A 15.72% Drop in 24 Hours or More? 

Despite the initial hype, the $EDGEN token faced significant volatility post-launch. Within hours of trading, the token reached an all-time high of $0.02528 but quickly dropped to an all-time low of $0.0193, a decline of approximately 15.72%. As of writing, the token’s price stands at $0.02150, with a market cap of $3.78 million and an unlocked market cap of $6.35 million.

Compared to the relatively low market cap, the 24-hour trading volume of $33.44 million indicates heavy selling pressure, likely driven by airdrop recipients cashing out their tokens. This high volume-to-market-cap ratio suggests that the market is still adjusting to the token’s entry, with early speculators contributing to the price decline.

Moreover, based on the peak value on exchanges, the token is down by almost 60%. Per MEXC data, $EDGEN surged to $0.04498 before correction. Some other reports on X disclosed that the token was listed at $0.08. In any case, this is often the usual case with most token listings on exchanges. 

Community Response: Controversy around Distribution

The price decline wasn’t the only challenge LayerEdge faced post-launch. The X platform became a hotbed for community frustration, with many users expressing disappointment over the token distribution and the project’s failure to meet earlier promises.

A particularly vocal user, @FlexxRichie, posted a detailed critique on June 2, 2025, representing the sentiments of some early supporters. 

The user wrote, “From day one, you promised that OG Pledge Pass minters would receive 100% of their mint fees back in $EDGEN tokens at TGE. We trusted that. We held the line. We farmed tirelessly for five months, spending time, energy, gas, and belief ,  only to wake up to a TGE that rewarded most of us with less than $2 worth of tokens.” 

@FlexxRichie further stated, “This isn’t just about money. It’s about trust. About keeping your word. About respecting the same community that hyped LayerEdge, minted passes, invited friends, and defended you across platforms.” The user called on LayerEdge to “fix this” and “make it right,” warning that the project’s next move would define its long-term credibility.

Other X users echoed similar sentiments. Some complained that Binance Alpha users received 1,111 $EDGEN tokens, while testnet contributors got far less. The disparity in rewards, 1,111 tokens for Binance users versus 100–300 tokens for ecosystem contributors, became a focal point of criticism for some users.

LayerEdge’s Vision and Technical Framework

Despite the rocky launch, LayerEdge’s underlying technology and vision remain ambitious and impressive. The project aims to create a decentralized verification layer that leverages zk-proofs to enhance blockchain interoperability. The edgenOS software transforms everyday devices into zk-verifiers, validating proofs submitted by applications or chains. These proofs are aggregated into an Anchor Proof every 24 hours, committed across multiple blockchains for immutable integrity.

LayerEdge’s Edgen Chain, built with the Cosmos SDK and EVM-compatible, serves as a programmable execution layer for smart contracts and decentralized applications (dApps). The project also integrates with the Cosmos Inter-Blockchain Communication (IBC) protocol, connecting to over 115 IBC-enabled networks, as noted in an X post announcing the EdgenChain Alpha Mainnet launch.

The platform’s hybrid security model combines Bitcoin’s consensus mechanism with distributed verification, ensuring scalability without compromising security. This architecture aligns with LayerEdge’s mission to build a “truly programmable trust layer.”  

What’s Next for LayerEdge and $EDGEN?

The $EDGEN token launch has exposed some challenges for LayerEdge in terms of market performance and community relations. The sharp price decline and high trading volume suggest the market is still adjusting, with early selling pressure from airdrop recipients likely contributing to the volatility. Meanwhile, the community’s frustration over token distribution and alleged unmet promises may fade away or continue to be a presence.

For LayerEdge to regain absolute trust from its community, it will need to address the concerns raised by its user base. Transparent communication and tangible steps to support early adopters could help rebuild confidence. On the technical front, the project’s focus on zk-proof verification and interoperability positions it as a potential innovator in the Web3 space, but execution will be key.

Market observers will watch closely to see if $EDGEN can stabilize above its current price. While some analysts remain optimistic about its long-term potential, the immediate future depends on LayerEdge’s ability to navigate this potentially turbulent post-launch period.