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MYX Finance Token Skyrockets: Here’s Why Traders Are FOMOing In

MYX Finance Token Skyrockets: Here’s Why Traders Are FOMOing In

Author:
Coingape
Published:
2025-08-06 04:50:19
9
3

MYX Finance Token (MYX) is painting the charts green today with a double-digit surge. While the broader crypto market shows mixed signals, this DeFi gem is defying gravity—but what's fueling the rally?

Catalyst #1: Exchange Listings & Liquidity Boom

Binance's MYX perpetual futures launch at 08:00 UTC triggered a 47% volume spike. Market makers are deploying seven-figure liquidity pools, slashing spreads to sub-0.3%.

Catalyst #2: Staking APY Hits 382%

The protocol's veTokenomics update now showers early stakers with absurd yields—temporarily. As always, these numbers will normalize faster than a hedge fund's ethics committee.

Technical Outlook

MYX just flipped its previous ATH of $2.17 into support. The 4-hour RSI screams 'overbought' at 89, but in crypto-land, irrationality tends to outlast solvent traders.

Word on the chain: A Tier-1 VC is rumored to be accumulating positions ahead of MYX's Q3 cross-chain expansion. Whether this pumps or dumps the token depends entirely on whose Twitter thread you believe.

MYX token Surge 477%

MYX, the token of non-custodial trading platform MYX Finance, shocked the crypto market with a huge 477% price jump in just one day, hitting a new all-time high of $2.09.

Many people in the crypto space were surprised by this massive move and started asking: Why is MYX going up so fast?

Key Reasons Behind MYX Price Pump

Here’s a simple look at the reasons behind the big price jump.

One of the biggest reasons for the price jump was that MYX got listed on some major crypto exchanges, including a special category called “Binance Alpha.” This made the token easier to buy and gave it more attention.

At the same time, MYX is leading in the world of decentralized derivatives trading on the Binance Smart Chain. This helped attract more interest as traders look for strong platforms in the DeFi space.

In the last 24 hours, MYX’s trading volume grew by 146%, reaching over $257 million. For the entire week, it crossed $2.4 billion. More than 6,700 transactions were made, and the total value locked on the platform went over $25 million.

This shows that more and more people are actively buying, trading, and using the token, which usually leads to a strong price jump.

Another reason for the price surge was short liquidations. Many traders were betting that MYX WOULD fall. But when the price started going up, leading to a $10 million worth of short positions being liquidated, which added more buying pressure and helped the price climb even faster.

As the price kept rising, more people rushed in to buy MYX out of fear of missing out (FOMO). The Fear & Greed Index for MYX hit 64, showing strong “greed” in the market.

MYX Token Drops to $1.27 After Massive Rally

The MYX token saw an explosive rally over the past week, jumping 16x in just seven days. At one point, it surged 477% in a single day, rising from $0.28 to an all-time high of $2.09, pushing its market cap to new heights.

This sharp rise was mainly fueled by strong retail interest and technical momentum. However, as prices climbed, many investors began to take profits, leading to a price correction. MYX has now dropped to $1.27.

Adding to the signs of overheating, the token’s Relative Strength Index (RSI) reached 97.45, an extremely high level that often signals overbought conditions and intense speculative trading

|Square

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