Soaring 100% in 2 days, today's divine coin MYX reproduces an epic short squeeze, let's take a look at what's going on!
MYX, the token of MYX Finance on the on-chain derivatives platform, is now quoted at 0.25 and has a market capitalization of 250 million. Launched in May, it fluctuated like a roller coaster for 3 months.
More than 50% of MYX's trading volume is on-chain and is a Binance Alpha token, but the main battlefield is obviously in Binance contracts, with a 24-hour trading volume of 900 million, far exceeding the market capitalization.
MYX is being frantically shorted, with a rate of -0.74% and a settlement cycle of only 1 hour. This is an obvious short squeeze, and I don't know if it is the end of the market.
It is worth noting that several KOLs posted today that the fundamentals of the project are questionable. But market makers are very tough, the more you feel that it is worthless, and the more you short, the more fierce it rises.
MYX is rising, remember to pay attention to the risk!
#MYX #MYXFinance
Show original
6.38K
5
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.