MYX (MYX Finance) rose 11.18% in the last 24 hours.

Gate News Bot news, September 17, according to CoinMarketCap data, as of the time of writing, MYX (MYX Finance) is currently priced at $11.70, with a 24-hour pump of 11.18%, reaching a high of $19.01 and a low of $10.17, with a 24-hour volume of $181 million. The current market capitalization is approximately $2.306 billion, an increase of $232 million compared to yesterday.

MYX is a decentralized trading platform that supports perpetual contract trading, cross-chain asset swaps, copy trading, and other decentralized financial services. MYX provides services through smart contracts on multiple blockchains such as ARB, LINEA, and OPBNB, and does not offer asset custody; all user assets are managed by the users themselves. Users conduct relevant on-chain transactions through smart contracts, and MYX does not participate directly.

Important news about MYX recently:

1️⃣ The controversy over the connection between the project team and the large airdrop wallet The MYX team has been found to be directly associated with a wallet that received $170 million from its airdrop. By tracking the movement of funds across multiple on-chain addresses, it was discovered that one of the wallets receiving the airdrop is linked to the MYX creator. This finding may raise concerns in the market regarding the project's fairness and transparency, affecting investor confidence.

2️⃣ Price has experienced significant volatility MYX has experienced significant price fluctuations over the past week. On September 12, MYX saw a major drop of 38.27%, with the lowest price reaching $1.13. However, in the following days, the price rebounded significantly, with a current 24-hour rise of 11.18%. This high volatility reflects the instability of market sentiment, which may be related to project controversies and speculative behavior.

3️⃣ Contract trading activity rises The open positions of MYX futures contracts have surged recently, reflecting traders' heightened interest in this cryptocurrency. At the same time, the contract market has experienced significant liquidation events, with the 24-hour liquidation amount reaching as high as $64.33 million, dominated by short liquidations. This situation may exacerbate market volatility and trigger a chain reaction when prices rise.

From a technical perspective, the MYX price is currently showing a rebound trend but is still in a high volatility range. Investors need to closely monitor the recent low support at $10.17 and the short-term high resistance at $19.01. Considering the controversies faced by the project and the uncertainty of market sentiment, the price trend may continue to remain highly volatile.

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