The MYX Finance token has increased nearly 15 times over the week – from $1.20 to $17.70. In the last 24 hours, it has nearly doubled, allowing the project to break into the top 100 cryptocurrencies and take 35th place by market capitalization.
However, the rapid growth has raised a wave of concern among analysts: there are increasingly serious suspicions of artificial price manipulation.
📊 What is happening with MYX?
Trading volumes have sharply increased to $6–9 billion.
Short positions worth over $10 million have been liquidated.
At the moment of price increase, 39 million tokens were unlocked, fueling the movement.
Analysts discovered hundreds of small purchases flowing into the central wallet, as well as similar schemes on PancakeSwap, Bitget, and Binance.
An insider under the nickname Dominic (evm/acc) called it a 'controlled pump' to attract traders and funds, followed by insiders dumping tokens.
⚠️ Sybil Attack
Researchers from Bubblemaps reported the largest Sybil attack in the Ethereum ecosystem.
100 coordinated addresses hold 9.8 million MYX (~$180 million).
Such concentration creates the risk of mass sell-offs.
Such actions previously led to price increases of up to +240% in a day, after which the market experienced sharp declines.
📝 Conclusion
MYX Finance is currently not providing official comments. However, such dynamics look dangerous and may attract the attention of regulators. For investors, this is a signal to be cautious: the growth appears unnatural, and the risk of a sharp dump is high.
#altcoins #Binance #newscrypto $MYX
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