MYX Soars 200%, Obliterates $48.7M in Shorts—Outpaces BTC & ETH Liquidations as Volume Surges Past XRP

MYX just delivered a brutal lesson in crypto volatility—rocketing 200% while systematically vaporizing $48.7M from overconfident short positions.

Liquidation Domination

It wasn’t even close. MYX’s liquidation tally surpassed both Bitcoin and Ethereum combined—a stunning feat for a token still flying under many radars.

Trading Volume Breakout

Volume surged so aggressively it blew past XRP’s levels, hinting at institutional or whale-driven momentum rather than retail FOMO. Because nothing says 'healthy market' like a token pumping on the ashes of rekt shorts.

So while TradFi analysts scratch their heads, MYX’s rally screams one thing: in crypto, the house doesn’t always win—but the degens sometimes do.

At the same time, the token’s uptrend has resulted in an over 100% climb in derivative volumes to more than $11 billion, placing it among the top five most traded tokens in the last 24 hours. This volume is five times higher than Cardano’s ADA and $4 billion higher than XRP.

Market skepticism

The scale of MYX’s price growth has raised doubts among market watchers, who argue that the token’s repeated spikes resemble manipulation rather than sustainable demand.

Crypto trader Skew pointed to “targeted squeezes” that push MYX far above its trading range, triggering liquidations of delta-neutral strategies and consolidating supply control in a few hands.

He wrote:

“The token has consequently moved up 166% or 2.6x without resistance or competition meaning one party currently controls a large % of that token & market.”

However, others take a different view, suggesting the rally reflects rising appetite for decentralized perpetuals. They compared MYX’s trajectory to that of Hyperliquid, which recently emerged as a leading on-chain derivatives venue.

Pseudonymous crypto tarder Purrteil wrote:

“This only shows how much people, VCs, family funds, etc, have appetite for new perp dex.”

MYX Finance runs a decentralized perpetual exchange on BNB Chain. It uses a “Matching Pool Mechanism” designed to reduce slippage by pooling liquidity, while supporting trades across multiple blockchains.

According to its website, the platform has attracted more than 177,000 traders, processed $95.6 billion in lifetime volume, and locked $59.3 million in total value.