🚀 Recent market performance and core characteristics of MYX (as of August 6, 2025)

1. Extreme price fluctuations and surging markets

Short-term surge is astonishing: At the beginning of August 2025, the price of MYX skyrocketed from $0.065 USDT to a peak of $1.46 USDT (an increase of over 20 times), with some trading periods seeing daily increases of 80% (e.g., from $0.235 to $0.42).

Squeeze market domination: The funding rate once dropped to -2%/hour, making shorting incur continuous high costs, leading to large-scale short liquidations. For example, a 10x leveraged long could yield 21 times profit within 24 hours.

Cross-exchange price differences: Bitget's spot price once reached $1.6 USDT, while Binance's perpetual contract was only $1.3 USDT, exacerbating short risks.

2. High control and liquidity characteristics

Market manipulation is evident:

The circulating market cap is only $31 million, but the 24-hour trading volume reached $830 million, with a trading volume/circulating market cap ratio of 26.8 (far exceeding normal levels), indicating that prices are entirely dominated by large funds.

Repeated occurrences of 'pulling back double after a 20% drop' manipulation techniques, such as the rapid surge from 0.38 to 0.97.

Contract-dominated market: MYX is only available for contract trading (on Binance, Huobi, etc.), with no spot trading enabled, making price fluctuations more susceptible to manipulation.

3. Long-short game and investor strategies

Longing logic:

In a negative rate environment, shorting costs are extremely high, prompting some investors to turn to trend-following long positions. For example, entering at 0.35 and taking profits at 0.97 realized nearly 3 times returns.

The technical faction lays out long positions based on the '27.5% pullback rule' (both times the price pulled back 27.5%, it initiated a major upward wave).

Shorting risks:

Repeated attempts to short at the top failed (e.g., a short at 0.2588 was stopped out at 0.2888), and the market maker quickly liquidated short positions through rapid price increases.

4. Project background and points of contention

Technical positioning: MYX is a decentralized perpetual contract protocol that employs a long-short matching pool mechanism, claiming to reduce liquidity dependence by balancing positions. In 2023, it secured $5 million in funding from Sequoia Capital (HongShan), Consensys, and others.

Node staking mechanism:

Need to lock in at least 300,000 MYX (about $90,000), with a 7-day unlocking period, which may reduce circulation.

The Binance Foundation previously purchased $25,000 MYX, included in the '$100 million ecosystem plan'.

Valuation controversy:

Optimistic prediction: FDV (Fully Diluted Valuation) $30 million → $100 million, corresponding target price $1 USDT.

Top signal: Some analysts believe that $1.46 USDT has already been a short-term peak, with the technical aspect showing a 'five-wave completion' pattern.

⚠️ Core risk warning

Unlocking selling pressure: Around August 6, approximately 39 million MYX will unlock, constituting a large proportion of the circulating supply, potentially triggering sell-offs.

Liquidity trap: Low market capitalization + high control characteristics make prices prone to flash crashes (refer to the ACT coin's daily halving case).

Regulatory uncertainty: The US SEC is investigating market manipulation in the cryptocurrency market, and MYX's control model may come under scrutiny.

💎 Investor response suggestions

Short-term trading: Avoid counter-trend operations, especially be cautious with high-leverage short positions. If the rate drops to normal levels (e.g., 0.01%/hour), watch for breakout signals.

Medium to long-term layout: Pay attention to staking participation rates and on-chain data. If FDV breaks $100 million, be wary of bubbles.

Position management: Single coin position ≤ 5%, to prevent extreme fluctuations from wiping out principal.

🌐 Summary: MYX is a typical 'domestic control small coin', with surges originating from low circulation + high contract leverage + negative rates forcing a short squeeze. Although there are innovations in the technical aspect, the current price reflects excessive speculation, it's best for non-holders to remain observant, and for holders to take profits in batches.