MYX Finance: Token Surge and the Debate Around Its Rally

The token of MYX Finance has surged nearly 1,400 percent in a single week, climbing to an all time high of 18.42 dollars. The move has placed the decentralised perpetual exchange in the spotlight, drawing both excitement and scrutiny. 

While the rise has been attributed to high profile listings, derivatives activity, and short squeezes, onchain analysts are cautioning that the speed of the rally may not be sustainable. 

Findings by Bubblemaps have also prompted discussion about token distribution patterns, making MYX one of the most closely watched projects in the current market.

How MYX Finance Works

MYX Finance is a decentralised exchange that specialises in perpetual contracts. It operates using a Matching Pool Mechanism rather than the order books or automated market makers more common in other exchanges. 

The mechanism works by first taking the opposite side of a trader’s position, then later pairing longs and shorts from the pool. 

This system aims to reduce slippage and create trading conditions closer to centralised exchanges while remaining fully onchain.

The platform offers contracts settled in USDC with leverage of up to fifty times, appealing to users who want higher exposure. To strengthen its pricing, it uses a dual oracle system, which is designed to improve accuracy and reduce risks associated with sudden price swings. 

These features have helped MYX stand out among decentralised platforms and attract active traders looking for both liquidity and leverage.

The MYX token itself is used for incentives, governance, and ecosystem participation. While the design of the system provides potential advantages for efficient trading, it also means that sudden shifts in market activity can have an amplified effect. 

During the rally, the large inflow of trading volume and the mechanism of the platform may have contributed to rapid liquidations and price acceleration.

Read also: MYX Finance Price Prediction 2025-2030

Catalysts Behind the MYX Token Surge

Several key events explain the token’s sharp rise. On 5 September, MYX Finance announced the listing of World Liberty Financial’s token, a project linked to former US President Donald Trump and his family. 

The announcement attracted significant attention, and the MYX token began climbing almost immediately after. Another factor was recognition from Binance Alpha, which highlighted MYX among the best performing token generation events and airdrops. 

Early participants saw strong returns, with some allocations rising dramatically in value. This recognition expanded the token’s visibility to a larger group of traders and speculators.

At the same time, derivatives activity on MYX reached new highs. Data from CoinGlass showed open interest above 400 million dollars. Between 6 September and 10 September, more than 89 million dollars of short positions were liquidated compared with 23 million in long positions. 

These forced liquidations, often called short squeezes, pushed the price even higher as traders who had bet against MYX were compelled to buy back their positions.

The limited circulating supply added to the pressure, as strong demand met with relatively low availability. Combined with the listing and recognition events, this created the conditions for a sharp and extended rally.

Read also: MYX Finance Price Soars 167%, Hidden Gem or Pump and Dump?

Concerns Raised by Analysts and Onchain Findings

While the rally has brought attention to MYX, some analysts have raised concerns about sustainability. 

One issue discussed in the market is that a large unlock of 39 million tokens coincided with the surge. This has led to debate about whether early holders may have chosen to sell into the increased demand.

Trading patterns have also drawn scrutiny. Reports of daily perpetual volumes between six and nine billion dollars have raised questions among commentators about the scale of activity relative to market size. 

Analysts have suggested that concentrated trading flows, along with the liquidation of short positions, may have contributed to the speed of the rally.

A notable contribution to the discussion came from Bubblemaps, a blockchain data analysis platform. In their public findings, Bubblemaps highlighted that around one percent of the MYX token supply was distributed across one hundred wallets. 

They observed similarities in funding and claiming patterns among these wallets, and noted that one address was linked to the token creator. 

Bubblemaps has called for further explanation of these patterns, as they believe greater clarity would benefit the community. Importantly, Bubblemaps did not accuse MYX of wrongdoing but rather presented observations and encouraged transparency.

Technical analysis has also been used to support caution. The relative strength index for MYX reached values above ninety, which typically indicate overbought conditions. Analysts point out that similar conditions earlier in the year preceded a significant decline in the token’s price. 

Some estimates suggest a potential correction of seventy to eighty five percent, though these are based on market patterns and not certainties.

Together, these factors have created a mixed picture. On one hand, MYX has achieved rapid growth and visibility. On the other, questions raised by analysts and Bubblemaps point to the need for careful consideration by traders and investors.

Read also: How Bubblemaps Survived the Scam Rumor

Conclusion

MYX Finance has captured the market’s attention with a token surge of 1,400 percent in just one week. The rally has been fuelled by listings, derivatives activity, and strong speculative demand. 

At the same time, analysts and onchain researchers such as Bubblemaps have pointed to areas where caution may be warranted, including token unlocks, trading volumes, and distribution patterns. 

While the exchange presents new approaches to decentralised trading, the future of the MYX token will depend on whether its fundamentals can match the recent surge in attention. 

For those seeking safer ways to access crypto markets, Bitrue offers a straightforward and reliable option for trading without exposure to high leverage risks.

FAQ

What is MYX Finance?

MYX Finance is a decentralised exchange for perpetual contracts that uses a matching pool system instead of traditional order books or automated market makers.

Why did the MYX token rise by 1,400 percent?

The rise was influenced by the listing of a Trump linked token, recognition from Binance Alpha, strong derivatives activity, and the liquidation of short positions.

What are analysts concerned about?

Analysts have discussed risks related to token unlocks, unusual trading volumes, and overbought technical indicators, which could suggest a correction.

What did Bubblemaps find?

Bubblemaps reported that around one percent of the token supply was spread across one hundred wallets with similar activity patterns. They have asked MYX Finance to provide further clarity.

Should traders invest in MYX?

Traders should be cautious. While the token has seen rapid gains, the risks of volatility and correction remain high. Safer platforms like Bitrue may be more suitable for those prioritising reliability.

Investor Caution 

While the crypto hype has been exciting, remember that the crypto space can be volatile. Always conduct your research, assess your risk tolerance, and consider the long-term potential of any investment.

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