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3w ago

MYX Token Surges 289% to $0.989 Before Pullback as Overbought Signals Mount

Elevated trading volumes following a Binance listing alongside speculation about a pending V2 upgrade have driven the rally despite signs of overheating.

Langrange
MYX crypto sees 1500% gains: Retail trap in the making?
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Overview

  • On August 5, the MYX token jumped 289% to an all-time high of $0.989 before retracing to $0.881.
  • Daily trading volume climbed above $64 million as a Binance listing drew renewed retail interest.
  • Technical readings such as a relative strength index above 85 point to overbought conditions and heightened pullback risk.
  • Backed by Sequoia China, HashKey Capital and ConsenSys, MYX Finance powers a cross-chain perpetual derivatives exchange on Arbitrum, Linea, BNB Chain and opBNB.
  • Market focus has shifted to the unconfirmed V2 upgrade, with speculation around features like zero-slippage execution and advanced chain abstraction driving demand.