MYX Finance, a decentralized perpetual exchange, has been making waves in the cryptocurrency market, with its native token experiencing significant price increases. Only a few projects could make such phenomenal performances, especially over consecutive days, and MYX Finance is undoubtedly one of those exceptional cryptocurrencies, having surged over 1400% in just three days.
While this significant rally has caught investors’ eyes, experts urge traders to exercise caution, citing a possible market manipulation behind this surprising surge. Despite the positive sentiment surrounding the token, there are red signals that warn against potential market manipulation and a possible price correction.
This article analyzes the present price trend of the MYX Finance token, the drivers behind the rally, and experts’ caution.
MYX Finance Surges 1400%
Currently, MYX Finance is experiencing a remarkable rally, hitting a new all-time high of $18.4 earlier today. Over the past three days, the token has been experiencing a positive trend, with its price surging for the third consecutive day.
Since its launch in June 2025, the cryptocurrency has been caught within a negative zone of around $0.16. In August, the token started showing slow signs of recovery with its price slightly surging to $1.66. After a month of consolidation, the altcoin experienced a sharp increase and reached an all-time high of $10. Since then, the cryptocurrency has started drawing more impressive gains, marking new all-time highs multiple times.
At press time, MYX Finance is trading at $17.21, down from its latest all-time high. However, the crypto is still maintaining its positive momentum, with a surge of 0.7% in a day, 1367% in a week, and 905% in a month.
Key Catalysts
Significantly, there are multiple possible catalysts behind the surprising surge of MYX Finance, including strategic partnerships, the Matching Pool Mechanism, and growing derivatives activity. These factors have reportedly combined to propel the crypto to unprecedented heights.
MYX Finance Lists WLFI Token
One of the key possible reasons for MYX Finance’s rally is the platform’s recent listing of World Liberty Financial’s WLFI token. On September 5, the platform announced the WLFI listing, capitalizing on the hype surrounding the WLFI launch. The token started showing bullish signs a day after this listing, indicating that the move bolstered the community’s interest in the MYX Finance token.
V2 Upgrade
Another possible reason is the anticipation surrounding MYX Finance’s forthcoming V2 upgrade, expected in the coming weeks. With this upgrade, the platform will provide new features like zero-slippage trading, cross-chain support, and a smoother user experience. This potential development could make MYX Finance a strong competitor among other decentralized exchanges.
Exchange Listings
The MYX Finance rally gained even more strength following its top ranking on Binance Alpha’s list of best-performing airdrops and token generation events (TGE). According to Binance Wallet data, the token has seen its value skyrocket from $5.92 to over $8,100 per user, solidifying its top position on the exchange’s list.
Meanwhile, the crypto’s open interest surged past $400 million, highlighting the growing demand for derivatives trading on the platform.
Trading Volume
As the MYX Finance token started showing positive signs on September 6, the community began showing interest in it. This boosted the trading activity, with the 24-hour volume surging past $350 million on September 8, with a more than 600% surge. While the second day also showed a similar correlation between the price and volume, the third day’s price surge seemed disconnected from the volume. Today, the volume is at $543 million, down by 33%.
Red Flags Raised
Despite the impressive price gains, some experts have raised concerns about possible manipulation behind the rally. While early momentum seemed organic as the community activity and trading volume were high in parallel with the price gains, the third day’s results were different. This has further fueled concerns about the market dynamics.
“I think this is the biggest scam move I have ever seen in my time,” said an analyst on X. Experts have been raising concerns over the unrealistic uptrend, asserting that it could be a scam or manipulation.
An analyst known as Dominic on X highlighted that the disproportionate daily perpetual trading volumes compared to the project’s size and liquidity raise concerns of foul play behind the bull run. He wrote,
“Over $10 million in short positions liquidated in one day, and whales intentionally pushed the price up to trigger liquidations. This creates artificial demand that disappears once the shorts are cleared or after they finish selling 1.5% of the supply scheduled for unlocking today.”
