Altcoins are starting to escape last week\u2019s plunge into red territory, as the broader market shows strength amid speculative excitement. However, while most altcoins are still seeing modest gains while momentum builds, MYX Finance\u2019s (MYX) sudden surge is raising eyebrows.<\/p>\n
Exploding by 240% over the past 24 hours, the MYX price experienced rapid, successive spikes that drove its value to $7.67 this afternoon. As traders question the sustainability and legitimacy of MYX\u2019s rally, many are rotating to a project with a long-term vision.<\/p>\n
Drawn by its focus on utility and sustainable growth, investors have already committed over $15.6 million into the Best Wallet Token (BEST)<\/a> presale. Let\u2019s examine the factors behind the smart money shift, and take a closer look at these two market-leading projects.<\/p>\n This publication is sponsored. CryptoDnes does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other materials on this page.<\/strong><\/em><\/span><\/p>\n As a non-custodial derivatives exchange that supports assets from over 20 chains, MYX Finance enjoys strong visibility among locked-in traders. Designed to streamline trading processes and introduce zero-slippage trading in its upcoming V2 update, MYX Finance is a strong competitor to existing solutions.<\/p>\n Although it started September priced at just $1.20, the platform\u2019s native token, MYX, skyrocketed to $7.67 today. While the rally can largely be attributed to the hype surrounding MYX Finance\u2019s upcoming upgrade, analysts have identified several signs of potential manipulation.<\/p>\n For instance, MrsBeast DeFi, a technical analyst, believes the MYX price chart was heavily manipulated to liquidate short traders. She believes MYX will face a brutal correction once the pump ends, anticipating a dip below $1.<\/p>\n Over the past 24 hours, short liquidations amounted to $12 million, with open interest in MYX rising by 150%. Despite the token\u2019s volatile upward trajectory, its long\/short ratio remains at 0.3, meaning over 77% of traders are shorting it.<\/p>\n Plus, the token\u2019s aggregated funding rate stands at -0.36, indicating bearish pressure. Likewise, its Relative Strength Index (RSI) of 82.65 shows that the token\u2019s room for growth is narrowing as its market cap exceeds $1.4 billion.<\/p>\n However, MYX is showing no signs of slowing down as its early holders are in the process of receiving nearly 39 million tokens via unlocks. A similar scenario occurred in August, when MYX surged from $0.1 to $1.99 in just 17 days. Right after the pump, a mass sell-off of unlocked tokens took place, with MYX halving in value.<\/p>\n Market commentators have also noted that one MYX whale has started gradually selling their holdings. Executing multiple small transactions, the whale sold $20,000 worth of MYX. If other major MYX holders start following suit, the token could suddenly repeat its August performance.<\/p>\n Calling MYX\u2019s gains a \u201ccontrolled pump,\u201d the crypto expert Dominic<\/a> believes those behind it could soon orchestrate another price crash. Highlighting that the current surge isn\u2019t organic, he is confident that a large sell-off by insiders will follow soon.<\/p>\n Amid the uncertainty surrounding MYX, investors are redirecting their focus toward Best Wallet Token (BEST)<\/a>, a project that\u2019s yet to realize its full potential.<\/p>\n
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\nMYX Whales Show Signs of Exhaustion as the Token Hits New All-Time Highs<\/h2>\n
Demand for Best Wallet Token Surges Ahead of Launch<\/strong><\/h2>\n