MYX Finance’s price has soared to dizzying heights, a meteoric rise that has left many traders scratching their heads and muttering under their breath about the possibility of insider shenanigans. In the world of finance, where whispers can turn markets, the latest spike in MYX has all the makings of a modern-day fable-part cautionary tale, part comedy of errors.
- The sharp rally is fueled by a sudden surge in derivatives activity, with billions pouring into perpetuals and open interest doubling. Itās as if the market decided to throw a party, and everyone was invited-except those who actually understood what was happening.
- The timing of a 39 million token unlock has raised eyebrows, leading to whispers of insider selling into the eager arms of retail investors. Itās like watching a magician perform a trick, except the audience is starting to suspect the rabbit might have been in the hat all along.
- Community voices are warning that this could be a coordinated pump-and-dump, reminiscent of the Mantra collapse earlier this year. Itās a classic case of history repeating itself, only this time with a bit more flair and a lot more question marks.
The token traded at $3.68 on Sept. 8, up 135% in the past 24 hours and 214% over the past week. The sharp rise pushed MYX Finance (MYX) to a seven-day range of $0.984 to $3.78, with trading volumes skyrocketing like a rocket ship without a clear destination. š
In the past 24 hours alone, MYX registered $314.9 million in spot volume, an 829% increase from the day before. The derivatives market also saw a surge, with perpetual futures volume jumping 2,345% to $4.23 billion, and open interest rising 138% to $262.1 million. These numbers suggest a market on steroids, with traders chasing the rally like moths to a flame. But as any seasoned investor knows, where thereās fire, thereās smoke-and sometimes, that smoke can be toxic.
These figures indicate both increased market leverage and speculative trading. Rising open interest often signals new positions rather than mere closures, suggesting that traders are aggressively riding the wave. However, this also makes the token vulnerable to sudden shifts and forced liquidations. Itās a delicate balance, much like trying to stand on a soap bubble without popping it.
Allegations of Insider Manipulation
Concerns about the sustainability of the rally began to surface after Web3 commentator Dominic flagged āquestionable activitiesā to his 44,000 followers on X on Sept. 7. His analysis accused whales and insiders of orchestrating a pump-and-dump through wash trading, forced short squeezes, and coordinated buying across exchanges. Itās a classic plot twist, like finding out the butler did it, but in this case, the butler has a few million tokens to offload.
Some people need jail time for real, today there where some questionable activities going on with $MYX Hereās a more detailed breakdown showing why $MYX looks manipulated and why traders should avoid it:
Several red flags I noticed myself that point to manipulation and insiderā¦
– Dominic(evm/acc)š (@0xD0M_) September 7, 2025
Dominic claims that the daily perpetuals volume suddenly jumped to $6-9 billion, an amount so large it could buy a small country-or at least a very expensive yacht. Identical trading patterns across Bitget, PancakeSwap, and Binance suggested coordinated whale activity, and over $10 million in shorts were liquidated in a single day. Itās as if the market decided to play a game of musical chairs, but the music was controlled by a few select players.
MYX Finance Price Rallies Despite Token Unlock
The timing of the rally coincided with a major token unlock, with nearly 39 million MYX tokens entering circulation just as the price spiked. This allowed early insiders to offload their holdings into the eager hands of retail investors. The combination of unlocks and surging derivatives interest has fueled suspicion that the rally is more engineered than genuine. As Dominic put it, āThese tactics create artificial demand that vanishes once insiders exit.ā Itās a bit like a fireworks show thatās over as soon as it starts, leaving the audience wondering if they missed the best part.
The concerns echo the Mantra (OM) crash in April, when OM plummeted 90% in an hour after suspected insider token movements. That event wiped out $5.5 billion in market cap and sparked allegations of cross-exchange manipulation, forcing the project to announce a token burn to restore confidence. Itās a reminder that in the world of crypto, what goes up can come down just as quickly, and sometimes with a bang. š„
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2025-09-08 10:42