As of Tuesday, DEXE was trading in the $24–$27 range, giving the token a market capitalization of roughly $2.3 billion.

Why Is DEXE Price Going Up?

DEXE’s latest rally has been amplified by a sharp derivatives squeeze.

Over the past 24 hours, traders suffered roughly $406,460 in DEXE liquidations, including $390,120 in shorts versus just $16,340 in longs. In other words, short liquidations accounted for about 96% of the total, showing how aggressively bearish leveraged positions were wiped out as DEXE moved higher.