MYX (MYX Finance) rose 235.30% in the last 24 hours.

Gate News Bot news, on September 9th, according to CoinMarketCap data, as of the time of writing, MYX (MYX Finance) is currently priced at $12.20, having pumped 235.30% in the last 24 hours, reaching a high of $14.37 and a low of $0.96, with a volume of $765 million in the last 24 hours. The current market capitalization is approximately $2.406 billion, an increase of $1.688 billion compared to yesterday.

MYX Finance is a decentralized trading platform that supports perpetual contract trading, cross-chain asset swaps, copy trading, and other decentralized financial services. The platform provides services through smart contracts on multiple blockchains including ARB, LINEA, and OPBNB, and does not offer asset custody; users manage their own assets. MYX is currently conducting an airdrop event where users can receive MYX token rewards.

Recent important news about MYX:

1️⃣ The launch of the Alpha version triggers a price surge Since the launch of the Alpha version, MYX Finance has shown a continuous rise in price. In just a few days, the price of MYX has increased by over 300%, soaring from the initial price to 14.056 USDT. This significant rise reflects the market's positive response to the MYX project Alpha version, attracting the attention of a large number of investors and traders.

2️⃣ Large liquidation events drive short-term price surge A long position of 4.78 million USD was forcibly liquidated, causing the MYX price to surge to 8 USD in a short time. This event triggered a chain reaction in the market, leading to a rapid decrease of 6 million contracts in Binance's open positions. Although the price later fell back to around 6.3 USD, this event significantly increased market volatility and volume.

3️⃣ Volume surge reflects market heat Accompanied by the rapid rise in prices, MYX's 24-hour volume significantly increased to 765 million USD. Compared to the previously reported 335 million USD, the volume doubled again. This substantial increase in trading activity reflects a significant rise in market participation, further driving the price pump.

From a technical perspective, the MYX price has broken through multiple key resistance levels in the short term, demonstrating strong upward momentum. However, such a rapid and significant rise has also greatly increased the risk of a pullback. Investors should closely monitor price trends and volume changes to assess the sustainability of the current upward trend. At the same time, it is essential to remain highly vigilant about potential price volatility and the risk of a pullback.

This message is not intended as investment advice, and investors should be aware of market volatility risks.