Overview

• The token jumped to roughly $17–$18 over the past day, lifting market capitalization above $2.1 billion and pushing fully diluted value near $17–$18 billion, according to multiple trackers.
• Derivatives activity swelled, with 24-hour perpetual volumes reported above $11 billion and open interest more than doubling during the run-up.
• Short sellers absorbed heavy losses, as CoinGlass data showed about $48.7 million in MYX liquidations over 24 hours, exceeding totals in Bitcoin and Ethereum.
• Bubblemaps reported roughly 100 freshly funded addresses claiming about 9.8 million MYX—valued near $170 million—raising concerns about a large airdrop sybil cluster.
• Analysts highlighted structural risks after a ~39 million token unlock coincided with the surge and more than 80% of supply remained locked, with technical gauges signaling overbought conditions and near-term pullback risk.