08.09.2025 05:36
From internet sources, concerns are mounting among financial analysts regarding the precipitous ascent of MYX Finance's native token, MYX. This cryptocurrency experienced a dramatic upswing, achieving a new all-time high during the early hours of Asian trading, thereby positioning itself as the day's leading performer. The impressive, triple-digit percentage surge has, however, fractured market opinion, with differing interpretations emerging from various experts. While some market observers have reported a lack of discernible unusual activity from large token holders, others are issuing stern warnings that such accelerated gains might be indicative of market manipulation.
The underlying reasons for MYX Finance's significant price jump are intrinsically linked to its function as the native utility token for the MYX Finance platform. This entity operates as a non-custodial decentralized exchange (DEX), designed to streamline and facilitate the trading of perpetual contracts directly on the blockchain. Data compiled by BeInCrypto Markets reveals that MYX has witnessed a staggering 167% appreciation over the preceding 24-hour period, reaching an unprecedented peak of $3.78 earlier in the day before settling at $3.56 by press time. One cryptocurrency analyst aptly described the movement as a "massive moon shot from the bottom," indicating an extraordinary leap in value.
The economic footprint of MYX has consequently expanded, with its market capitalization effectively doubling to exceed $450 million. Complementing this growth, trading volume has surged by an astonishing 1,318%, reaching a substantial $313 million according to CoinGecko data. A significant portion, approximately 66%, of this heightened trading activity was channeled through the cryptocurrency exchange Bitget. Nevertheless, this rapid and substantial price increase has not been devoid of scrutiny or controversy. Certain market analysts contend that the current rally is, in fact, a consequence of manipulation, an accusation that MYX has previously faced.
This situation echoes a similar event in August, when BeInCrypto reported on MYX's extraordinary 1,957% appreciation, which at the time drew considerable criticism and was even characterized by some as a potential trap. Following that explosive rally in August, the token did experience a subsequent retraction in some of its gains, only to regain upward momentum in September, culminating in the most recent peak. Despite this renewed surge, a segment of analysts remains unconvinced about the inherent organic nature of MYX's growth trajectory.
Further intensifying these reservations, analyst Dominic articulated a series of cautionary signals surrounding the token in a comprehensive exposition on the social media platform X, formerly known as Twitter. He specifically highlighted a notable and sharp escalation in daily perpetual trading volumes. Dominic posited that this increase appeared disproportionate when contrasted with the project's current scale and available liquidity, raising further questions about the sustainability and integrity of the trading activity. The analyst further pointed out the presence of "Over $10 million in short positions," adding another layer to the intricate financial landscape surrounding the token.
