Yeliz Akmaca 
MYX Finance (MYX) became the top gainer in the crypto market after a 167% rally within 24 hours. The token soared to $3.78, marking a new all-time high. Market capitalization doubled, surpassing $450 million in value. At the same time, trading volume jumped 1,318% to reach $313 million, putting MYX in the spotlight for investors.
However, the rapid surge sparked divided opinions among analysts. Some highlighted unusual whale activity, while others emphasized that weak liquidity created conditions for potential manipulation. CoinWings reported limited whale selling activity, suggesting reduced immediate selling pressure.
Why is MYX Token Rising?
MYX serves as the native token of the decentralized exchange (DEX) facilitating on-chain perpetual contract trading. Bitget accounted for 66% of MYX’s trading volume, which significantly boosted market momentum. Meanwhile, nearly 39 million tokens were unlocked during the sharp rally, raising questions about timing.
Crypto analyst Dominic pointed out that over $10 million in short positions were liquidated in a single day. He noted that whales deliberately pushed the price upward to trigger liquidations, creating artificial demand. On-chain data also revealed coordinated small buys routed to a central wallet and repeated across PancakeSwap, Bitget, and Binance. These movements signaled a structured pump targeting retail traders.
Sustainability of the Rally Remains Unclear
MYX Finance recently secured the “Volume Powerhouse” title at the BNB Chain Annual Awards. This recognition further fueled the rally and reinforced investor attention. Yet, past explosive gains followed by steep corrections urged traders to remain cautious.
Analysts underlined that the price spike reflects strong market interest but also shows classic manipulation patterns. Ultimately, MYX’s performance presents a complex picture shaped by surging demand and suspicious whale activity. The crypto community now closely watches whether this move will evolve into a sustainable trend or fade into a short-lived pump.
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