Post
*INFO FROM ACADEMY CRYPTO* ($MYX )
@everyone
# ** MYX Token Soars Thousands of Percent in a Week, Why?**
MYX Finance (MYX) rose more than 1,154% in a week, according to CoinMarketCap, Tuesday (09/09) morning. Currently, MYX is trading at US$13 or up 257% in just the last 24 hours.
This surge was triggered by derivative activity, with futures trading volume increasing 183% to reach US$11.2 billion. Coinglass data recorded open interest rising 41% to US$365 million.
However, concerns began to emerge after Web3 analyst Dominic highlighted suspicious activity behind the MYX rally. He accused the presence of pump-and-dump actions involving whales and insiders through wash trading, short squeezes, and coordinated purchases across exchanges.
“This tactic creates false demand that will vanish when insiders exit, while retail traders become victims,” he wrote on X.
Suspicion grew stronger as the price surge coincided with the release of 39 million MYX tokens into the market. This pattern recalls the case of Mantra (OM) last April, which plummeted 90% in just one hour due to similar alleged manipulation, erasing US$5.5 billion in market capitalization.
*Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR).*
@everyone
# ** MYX Token Soars Thousands of Percent in a Week, Why?**
MYX Finance (MYX) rose more than 1,154% in a week, according to CoinMarketCap, Tuesday (09/09) morning. Currently, MYX is trading at US$13 or up 257% in just the last 24 hours.
This surge was triggered by derivative activity, with futures trading volume increasing 183% to reach US$11.2 billion. Coinglass data recorded open interest rising 41% to US$365 million.
However, concerns began to emerge after Web3 analyst Dominic highlighted suspicious activity behind the MYX rally. He accused the presence of pump-and-dump actions involving whales and insiders through wash trading, short squeezes, and coordinated purchases across exchanges.
“This tactic creates false demand that will vanish when insiders exit, while retail traders become victims,” he wrote on X.
Suspicion grew stronger as the price surge coincided with the release of 39 million MYX tokens into the market. This pattern recalls the case of Mantra (OM) last April, which plummeted 90% in just one hour due to similar alleged manipulation, erasing US$5.5 billion in market capitalization.
*Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR).*
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.