Whale Buys 1.26M EDEL as Testnet Users Cross 35K

A new update from on-chain trackers shows growing interest in Edel Finance. The project’s testnet has now crossed 35,000 users. At the same time, a large wallet has been quietly buying the project’s token, $EDEL. The data was shared by Lookonchain. The numbers suggest rising attention around Edel Finance. As it continues to test its product ahead of a possible mainnet launch.

Testnet Activity Continues to Grow

Edel Finance runs a testnet that lets users try lending and borrowing with tokenized assets. These assets are not real money yet. Instead, they use mock tokens to test how the system works. Still, the activity gives a good idea of user interest.

JUST IN: $EDEL testnet users top 35K, with 4.1M USD1 being utilised in lending and borrowing.

Wallet with $468K in realized profits spent 12 $ETH ($38K) to scoop up 1.26M EDEL over the past two days – Lookonchain. pic.twitter.com/hIzyczJVdj

— Whale Insider (@WhaleInsider) January 8, 2026

As of January 8, testnet users have crossed 35K. Data shared on X also shows that around $4.1 million in mock USD is being used in lending and borrowing. This includes mock versions of stocks and other assets. For a project still in testing, these numbers stand out. Many users appear interested in how tokenized stocks and on-chain lending could work together. This trend has been growing across crypto over the past year.

Whale Wallet Buys 1.26 Million EDEL

Alongside the testnet growth, one wallet has drawn attention. According to Lookonchain, the wallet spent 12 ETH. Which is worth around $38,000 to buy 1.26 million EDEL tokens over two days. 

What makes this wallet notable is its past performance. On-chain data shows it has made about $468,000 in realized profits from hundreds of earlier trades. Because of this, many traders view its moves as “smart money” activity. The buyer quietly spread the buys across several transactions. This suggests planned accumulation rather than a one-time trade.

What Edel Finance Is Trying to Build

Edel Finance aims to bring lending and borrowing to tokenized real-world assets, like stocks. In simple terms, it wants users to lend, borrow or earn yield using on-chain versions of traditional assets.

The project runs on Base and markets itself as a bridge between crypto and traditional finance. Supporters often compare the idea to how Aave works for crypto tokens but applied to tokenized equities. The testnet allows the team to stress test this idea before they involve real assets.

Market Context and Risks

The $EDEL token is trading near $0.025 after a sharp drop from its peak in late 2025. Like many early-stage tokens, it has seen high volatility. Some community replies on X also warn about hype and possible shilling.

Still, rising testnet use and whale buying often attract attention in crypto markets. In past cycles, similar patterns have appeared before major launches. That said, results are never guaranteed. For now, Edel Finance remains in testing. But with users growing and large wallets stepping in, it is clearly on more traders’ radar.