Behind the MYX surge, these three risks may lead to wasted efforts!
Brothers, good evening! Sister Rong is here to chat with you about MYX, this flirty coin!
Recently, it surged 525% to $MYX , and the core reasons are these three points.
Why is it rising? The node system drives the 'the more it rises, the fewer there are' model, institutions stake tokens to earn profits, all repurchased and burned, circulation continues to shrink, with an annual yield of 15-20%. Retail investors are also sharing the profits, with the number of stakers increasing by 37% in a week. The ecosystem supports the market, following the trend, with a 100 million incentive program on the BNB Chain, and official purchases to support; the total locked value across chains doubled in a month. After Bitcoin rose to 112,000, funds are pouring into high-risk DeFi tokens, with MYX and BNB showing a high correlation in trends, becoming the preferred choice for speculation. Coupled with the August 9 airdrop, short-term funds are clustering together.
What are the pitfalls? High volatility, after a 136% rise in 24 hours, a massive whale sell-off led to a price flash crash of 60%, with a market value of only 26.93 million, and buying depth insufficient at 500,000, making it easy for large sell pressure to cause a crash. Team risks, not fully real-name verified, development in East Asia, previously questioned for being dominated by Chinese individuals; the team holds 20% of the tokens, unlocking in 25 years, potentially leading to concentrated sell-offs. Technology appears inflated, claiming zero slippage trading, yet the mainnet trading volume is only 0.3% of Uniswap's, with significant price differences across chains, leading to poor actual experience.
What to look for in the future? An An may go live, Binance Alpha has already launched contracts, with historical probabilities of over 70% to go live on the main site; on August 4, Binance cold wallet transferred 150,000 MYX, suspected to be preparing. Technical upgrades, Q3 will integrate the Solana chain, and by the end of August, there will be an AI collaboration to push a strategy following system, potentially replicating the traffic of other projects. Accelerated deflation, with the number of nodes exceeding 100, the annual burn volume accounting for 8% of the circulation, prices may continue to rise.
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