What is Myx Finance (MYX) and why did the last 24 hours shot more than 200%?

By Canuto

Myx, the native token of Myx Finance, a decentralized exchange of perpetual cryptocurrencies, has risen more than 200% price this Monday. Here are some of the reasons behind the rebound.

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Myx Finance is a decentralized exchange of perpetual cryptocurrencies.
Myx, the native token of Myx Finance, has shot more than 200% price today.
Token platform and list update feed the hype.
Some observers warn about possible manipulation and Pump-And-Dump.

The Token MyX has shot more than 230% price as the decentralized exchange (DEX) of perpetuals of cryptocurrencies, Myx Financegain attention in the ecosystem. If it is the first time you listen to it, do not worry: in this article we tell you about the project and some of the reasons behind its meteoric price increase.

What is Myx Finance?

Myx Finance It is a non -custodial platform that allows trade ON-CHAIN (in chain) of perpetual contracts for almost any token with an existing AMM market.

Its objective is to reduce capital costs for liquidity suppliers, eliminate network -related barriers for cryptocurrency merchants and simplify trading flow so that advanced derivatives are as accessible as cash exchanges.

Its innovation lies in the “Matching Pool Mechanism” (MPM), a system that groups liquidity in a pool Shared to reduce sliding and improve capital efficiency for liquidity suppliers.

In addition, the platform supports multi-cadena operations, including networks such as Arbitrum, line and BNB Chainwith expansion plans to Solarium and Cosmos In 2026. This allows users to operate with any asset without the need for forced bridges or conversions, positioning itself as a more accessible and efficient alternative to centralized futures markets.

Among its characteristics, chain abstraction, a two -layer account model that separates custody from the execution, and a fixed supply tokenomic design for your native token, MyX.

Increase volume in 24 hours

The negotiation volume in the last 24 hours has exceeded the USD $ 362 million, with a total locked value (TVL) on the platform of around 32 million dollars. According to certain observers, the volume is mainly concentrated in main cryptocurrencies such as Bitcoinfor USD $ 160 million, and Ethereumfor USD $ 122 million, while minor tokens such as BNB or $ Myx itself show marginal activity for USD $ 98,000 and USD $ 41,000, respectively.

Myx tokenomics and price jump

The Token $ MyX has a fixed supply, with a distribution that includes 40% for ecosystem incentives, 20% for main collaborators, 17.5% for investors, 14.7% for Airdrops, 4% for initial liquidity, 2% for community rounds and 1.8% for foundation reserves. The headlines can make staking to obtain a part of net trading rates and participate in governance decisions.

Myx has experienced a vertiginous ascent in the last hours, momentarily registering a 245% increase in its price in 24 hours on Monday and accumulating a gain of more than 820% in the week, according to data from Coingcko.

At the time of this edition, the price of MyX is at $ 8.9, promoting its market capitalization to about USD $ 1.2 billion and its assessment totally diluted to USD $ 9,500 million.

What promoted explosive ascent?

The price jump, which led to $ MyX of a stable range between 1.20 and $ 1.40 to exceed $ 10 in a matter of hours, seems driven by a combination of factors. First, the Anticipation for the V2 update of the platformwhich promises execution without sliding and improvements in chain abstraction, has generated Hype In the community.

Besides, Recent lists in Exchange as Bitget, MEXC and Bybit Visibility and liquidity have increased, attracting retail investors driven by the FOMO (fear of missing the opportunity).

Liquidations amplify purchases

Data from Coinglass They indicate that more than 10 million dollars in short positions were liquidated in a single session, which amplified the bullish pressure by forcing repurchases. The open interest in perpetual future has scaled dramatically: in Binance reached USD $ 101.6 million, and in Bybit USD $ 42.5 million. The financing rates in perpetual contracts of MyX reached +80% picos before falling to -31%, indicating an aggressive positioning of lengths that could precede a reversal.

In social networks, users highlighted market appetite for new perpetual dex.

“It has pumped 3,000 million FDV just because it is a perpetual DEX. […] This only shows how much appetite people, vcs and family funds for new perpetuals have“, Wrote @derteil00 in X.

Another publication of @toknex_xyz describes movement as “parabolic“, With a high volume of purchases in Binance and Bybitbut warns of an imminent sale pressure: “Now the price will fall and whales will win, small investors will lose money“

Manipulation warnings: Pump-And-Dump orchestado?

Despite the enthusiasm, expert voices warn that the rally may not be entirely organic. Data from Defill They show perpetual volumes daily between 6,000 and 9,000 million dollars, disproportionate for a token of this size, which points to possible fictitious operations to inflate the activity, also known as washing trade.

An unlock of approximately 39 million tokens (about 4% of the total supply) coincided with the price peak, raising exploitation suspicions by Insiders. The analyst @0xd0m_ detailed in X several “Red flags“, Including the sudden increase in the daily volume of perpetuals during the night and short liquidations.

He added that on-chain flows show small purchases channeled to central wallets on platforms such as Pancakeswap, Bitget and Binancesuggesting coordinated manipulation. “This is a Pump-And-Dump textbook“, He concluded, indicating possible Wash Training, manipulation via Squeezesand sale of Insidersa similar pattern that has been seen in past collapses.

Context and Reverse Risks

Myx Finance recently won the “Volume Powerhouse” award in the BNB Chain Awards, reinforcing its credibility. However, the volatility history – such as a 2,000% rise in August followed by a 60% drop – reminds of investors the inherent risks.

Technical analysts, based on graphics of TrainingViewThey point out a clear break above the mobile socks of 50 and 100 periods, with volume jumping to 1.47 million. However, the verticality of the ascent increases the risk of reverse. The Traders They watch if MyX keeps the support in $ 3; A fault could return it to the range of 1.50 – 2 dollars.

Indicators such as RSI and MacD show momentum Alcista, but without bear divergences, which could attract more buyers before a correction. The high enthusiasm implies risks of liquidation waterfalls if the price revolves down. While this article was written, MyX fell below the USD $ 10 peak.

Article written with the help of AI, edited by Diariobitcoin

Image generated with AI, under free use license

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