Blab Crypto
MYX Finance Token Slides Over 12% Amid Large Transfer Activity and Liquidity Woes
MYX Finance’s native token, MYX, tumbled more than 12 % in the last 24 hours, settling near $0.87 on major exchanges. Trading volume surged 45 % to roughly $25 million, yet liquidity stayed thin, with a liquidity‑to‑market‑cap ratio of just 0.96 % per CoinMarketCap.
The price plunge followed a flurry of on‑chain movements that raised fears of additional supply flooding the market. Arkham data shows 17.96 million MYX—worth about $2.46 million—was transferred from a Gnosis Safe Proxy wallet to the Bitget exchange. A separate wallet moved 50 million MYX, valued at $6.41 million, to Bitget, while 12 million MYX, worth more than $1.5 million, shifted from a Bitget cold wallet to a hot wallet. In total, roughly 80 million MYX, or about $10.4 million, became available for circulation.
The market seemed unable to absorb the influx, pushing the token’s price lower. In the past 12 hours, long liquidations on the derivatives market exceeded $230 k, whereas short liquidations were only $7.4 k, indicating that leveraged bulls were caught on the wrong side of the move. Open interest fell sharply from above $3 million to around $2 million, and holder revenue dropped to zero, signalling a decline in protocol activity.
Technical analysis points to a breach of a key support level. MYX fell below the support of a triangle pattern at $0.1876. The daily chart shows the token had traded within this structure since March, so the recent weakness follows months of consolidation. Cumulative Volume Delta (CVD) data from Binance’s derivatives market shows continued selling pressure, with 26.64 million MYX contracts on the short side.
However, the Advance/Decline Ratio (ADR) improved from 0.48 to 1.83, suggesting that selling pressure may be easing. If buyers can reclaim the $0.1876 support and push the price above the triangle’s resistance, the breakdown could prove to be a false move. Otherwise, bearish sentiment is likely to keep MYX under pressure.
MYX’s recent volatility is not new. In August 2025, the token surged 1,957 % to an all‑time high of over $2, only to fall 58 % after a token‑unlock event released 38.99 million MYX, triggering large‑scale sell‑offs by major investors. Earlier in 2025, the token also saw a 1,400 % rise in a week, driven by listings and increased trading activity.
Today’s drop underscores the token’s sensitivity to large transfer events and liquidity conditions. Protocol revenue remains weak, and the market cap has contracted by more than $22 million in the past week. Investors and traders will be watching closely to see whether MYX can recover its support level or whether the current trend will continue.
In the coming days, market participants will monitor on‑chain activity for further large transfers, liquidity changes, and derivatives positions. The outcome will determine whether MYX can stabilize or if the token will continue to slide below its recent consolidation levels.
The price plunge followed a flurry of on‑chain movements that raised fears of additional supply flooding the market. Arkham data shows 17.96 million MYX—worth about $2.46 million—was transferred from a Gnosis Safe Proxy wallet to the Bitget exchange. A separate wallet moved 50 million MYX, valued at $6.41 million, to Bitget, while 12 million MYX, worth more than $1.5 million, shifted from a Bitget cold wallet to a hot wallet. In total, roughly 80 million MYX, or about $10.4 million, became available for circulation.
The market seemed unable to absorb the influx, pushing the token’s price lower. In the past 12 hours, long liquidations on the derivatives market exceeded $230 k, whereas short liquidations were only $7.4 k, indicating that leveraged bulls were caught on the wrong side of the move. Open interest fell sharply from above $3 million to around $2 million, and holder revenue dropped to zero, signalling a decline in protocol activity.
Technical analysis points to a breach of a key support level. MYX fell below the support of a triangle pattern at $0.1876. The daily chart shows the token had traded within this structure since March, so the recent weakness follows months of consolidation. Cumulative Volume Delta (CVD) data from Binance’s derivatives market shows continued selling pressure, with 26.64 million MYX contracts on the short side.
However, the Advance/Decline Ratio (ADR) improved from 0.48 to 1.83, suggesting that selling pressure may be easing. If buyers can reclaim the $0.1876 support and push the price above the triangle’s resistance, the breakdown could prove to be a false move. Otherwise, bearish sentiment is likely to keep MYX under pressure.
MYX’s recent volatility is not new. In August 2025, the token surged 1,957 % to an all‑time high of over $2, only to fall 58 % after a token‑unlock event released 38.99 million MYX, triggering large‑scale sell‑offs by major investors. Earlier in 2025, the token also saw a 1,400 % rise in a week, driven by listings and increased trading activity.
Today’s drop underscores the token’s sensitivity to large transfer events and liquidity conditions. Protocol revenue remains weak, and the market cap has contracted by more than $22 million in the past week. Investors and traders will be watching closely to see whether MYX can recover its support level or whether the current trend will continue.
In the coming days, market participants will monitor on‑chain activity for further large transfers, liquidity changes, and derivatives positions. The outcome will determine whether MYX can stabilize or if the token will continue to slide below its recent consolidation levels.
