Myx Finance (MYX) shot a new historical maximum (ATH) in the first hours of Asian negotiation, emerging as the best winner of the day.
The increase, fed by a triple digit rally, has a divided market feeling. Some analysts do not report an unusual whale activity, while others warn that fast earnings could indicate possible manipulation.
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Why do Myx Finance prices increase (MYX)?
Myx is the native utility token of Myx Finance. It is a non -custodial decentralized exchange (DEX) that facilitates trade in the chain of perpetual contracts.
Beinypto Markets’s data showed that Altcoin has registered a 167% increase in the last 24 hours. Today early, the price reached $ 3.78, representing a new record record for MyX. At the time of publication, he quoted at $ 3.56.
“Myx shot 200% in the moon from the bottom!” A cryptographic analyst wrote.
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Market capitalization also doubled, reaching more than $ 450 million. In addition, Coingcko data showed that the negotiation volume pumped 1,318% to reach $ 313 million. Bitget cryptocurrency exchange represented 66% of commercial activity.
However, rapid ascent has not been exempt from controversy. Some analysts argue that this rally remains the result of manipulation, an accusation that Myx has also faced in the past. In August, Beinypto reported that the appreciation of 1,957% of Altcoin attracted substantial criticism, some even called it a trap.
The currency threw some profits after the explosive Rally of August and recovered the impulse again in September, as evidenced by the last peak. Even so, analysts are not convinced that Myx’s growth is organic.
The Dominic analyst highlighted several red flags that surround the Token in a detailed publication about X (previously Twitter). He pointed out a strong increase in perpetual commercial volumes. This, he argued, seemed inconsistent with the size and liquidity of the project.
“More than $ 10 million in short positions liquidated in one day, and the whales deliberately promoted the price to trigger settlements. This creates an artificial demand that disappears once the shorts have gone or once they finish discharging 1.5% of the supply program to unlock today,” Dominic published.
In addition, he noted that almost 39 million tokens were unlocked as the price increased, and the moment coincides with the increase.
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“The data in the chain show multiple small purchases channeled in a central wallet and identical patterns through Pancakeswap, Bitget and Binance, which suggests only one thing: a controlled pump designed to catch the retail,” he added.
In addition, Dominic emphasized the role of thin liquidity in the amplification of price changes and suggested that technical indicators may have encouraged merchants to enter positions during the rally. According to these observations, he characterized the event as showing characteristics commonly associated with market manipulation.
“This is a bomb configuration and textbook drop. Retail merchants are output liquidity. Experts have already obtained profits. The last time there was an unlock at that time, those tokens changed in theoretical value of $ 3.9 million to around $ 59.4 million as market prices increased due to the scam bomb before falling in 60% a week later,” Dominic concluded.
Despite these concerns, Coinwings reported that the MyX showed a limited activity, without large -scale whale settlements. This indicates that they may not be intended to suppress the price soon, decreasing concerns about selling.
Therefore, current data has a complex image. While the negotiation volume and price increase suggest a strong market interest, analysts also pose valid points on manipulation.
The cryptographic community expects more developments to determine if this rally marks a sustainable advance or a prelude to a correction. Until then, the debate about its legitimacy persists.
