$MYX Surges 260% Just Before A 39M Token ?????? Tomorrow
Main Idea
The cryptocurrency $MYX experienced a rapid and significant price surge, driven by coordinated buying and potential market manipulation, with concerns raised about upcoming token unlocks and retail trader losses.
Key Points
1. $MYX's market cap surged from under $10 million to $120 million in a short period, with a 16x increase in seven days and a 140% jump in one day.
2. Six coordinated wallets made 2,240 small buys on PancakeSwap, accumulating 6.72 million $MYX ($3.92 million), then funneled them into a Bitget deposit address, suggesting a strategy to manipulate the market.
3. $MYX Finance is a decentralized perpetual exchange offering zero slippage via its Matching Pool Mechanism (MPM), making it attractive for large traders.
4. Retail traders reported heavy losses, with allegations of market manipulation, including $22 million in liquidations and no real spot buyers.
5. A significant token unlock of 39 million $MYX (20% of circulating supply) is imminent, which could lead to a price dump or short squeeze.
Description
Once a sub-$10 million market cap sleeper, $MYX exploded onto the scene this week. It rallied nine-fold in 48 hours. Today alone, it jumped another 140 percent, vaulting from $50 million to $120 million in total valuation. Perpetual frenzy followed. Binance perpetual contracts lit up as volume topped $4.97 billion in 24 hours, dwarfing PancakeSwap’s $79 million and Bitget’s $77 million spots. Funding rates sit at -2 percent. Shorts dominate. A perfect squeeze setup. $MYX Surges 16x in 7 Days — B...
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