Key takeaways
MYX has surged over 800%, breaking past its previous ATH. With over $9B in monthly perpetuals volume and strong technical momentum, MYX’s rally appears backed by both hype and real usage.
MYX Finance [MYX] has soared by over 800%, driven by strong growth on its perpetual trading platform over the past month and rising buzz around upcoming tech upgrades.
The rally has caught the market’s attention, and could be a sign of more to come.
MYX crypto sees parabolic run, sees new highs
The token has blown past its previous all-time high of $0.20 with a near-vertical surge, reaching as high as $1.80 — an 800%+ move from its former top at press time.
The hourly chart showed a strong uptrend with widening candles, rising volume, and no signs of slowing down. RSI was at 85, showing extremely overbought conditions, while MACD momentum sharply rose.
On the 4th of August, MYX also led gains across Binance, cementing its position as the top-performing token of the day. This could have also induced some level of FOMO.
For now, momentum remains firmly with the bulls.
What’s caused the surge?
The explosive rally in MYX’s price is backed by real market traction.
Over the last 30 days, MYX Finance’s perpetuals platform has recorded over $9 billion in trading volume, with $336 million in the last 24 hours alone.
This uptick in usage is an obvious sign of growing trader confidence in the protocol.
But that’s not all.
The real fuel behind the surge appears to be speculation around the MYX V2 upgrade.
Although no date has been confirmed, the promised features — like zero-slippage execution and chain abstraction — are expected to dramatically improve user experience.
Demand has also likely soared because MYX tokens offer benefits like discounted fees.
It also helps that MYX’s strong foundation was laid months ago. The token generation event in May saw over 30,000% oversubscription and over $51 million in trading volume within the first 24 hours.
To join the TGE, users needed at least 142 Alpha Points. The system boosted early demand and brought in strong community participation.
Since then, MYX has kept up its momentum consistently.