Performance review
$TOWNS Successfully achieved a ten-point increase in price range, with profits doubling, nearing $1,000 profit
$EPIC Entering the market with a seven-point increase in half an hour, directly capturing nearly $3,000!
$MYX is also the main character of this article, profiting on both long and short positions, with single coin profits nearing $10,000!
Successfully positioned currency rises onto the increase list! (Complete recording available for verification!)
Return to main text
When $MYX hit $2 on August 5, the entire crypto community was asking: how did this obscure derivatives protocol make the leap from 'third-tier project' to 'explosive myth'? On-chain data reveals the truth behind this capital game.
The bloody password of the contract market
Extreme negative funding rates expose market makers' 'long and short dual-kill' strategy
Large sell orders on exchanges combined with social media bullishness create a typical 'clear bullish, hidden bearish' operation
With 73% bullish sentiment, internal addresses have already set up sell orders above $0.9.
The art of technical packaging
MYX's 'chain abstraction' narrative accurately hits the market's pain points:
✓ Cross-chain trading requires no management of Gas fees (actually relies on third-party relayers)
✓ Claims 'democratized Alpha' (but 80% of trading volume comes from 5 market maker addresses)
✓ Node staking and destruction model (imitating BNB but lacking equivalent ecological support)
Analysis of trader's traces
CZ's tweet engagement triggered a follow-up effect, but Binance has yet to make a statement
The V2 preview video deliberately showcases the Solana icon, but the level of integration is questionable
'SlayDrop' airdrop event set to end on the 9th, creating FOMO sentiment
The dual face of data
Comparison of key indicators from May and August:
→ Trading volume decreased by 89% but price increased 20 times
→ Two new public chains supported but no TVL growth observed
→ Market cap/TVL ratio reaches 6.66, significantly higher than the industry average
Unlock countdown crisis
From August 6, over $50 million in tokens will be unlocked each month for three consecutive months, coinciding with the V2 promotional period. The project party may use positive news to offload, and investors need to be wary of the classic pattern of 'buy the expectation, sell the fact'. This capital game may just be entering its second half.
