MYX Finance token surges 1240% in one week, hitting an all-time high of $17.94, as the exchange’s derivatives trading sees a sharp uptick.
MYX, the native cryptocurrency of MYX Finance, has surged by a whopping 1240% on the weekly chart, hitting a new all-time high of $17.94 earlier today.
On September 9, its market cap surged to $3.35 billion, hitting a massive gain from under $200 million, a week before.
MYX, is the native cryptocurrency of non-custodial derivatives exchange, MYX Finance, which has been in the limelight recently.
What’s Behind the MYX Finance Price Rally?
In the beginning of September, MYX cryptocurrency was virtually unknown to the crypto community.
However, the parabolic surge in MYX price comes as derivatives exchange MYX Finance has seen a sharp rally in price and trading volumes, drawing strong attention from traders and analysts.
Several catalysts, like the upcoming V2 protocol upgrade, which promises zero-slippage trading, improved cross-chain support, and a more streamlined user experience, contributed to this rally.
Big token listings such as World Liberty Financial (WLFI), have led to fresh liquidity flowing into the exchange.
Coinglass data shows that derivatives activity for MYX Finance (MYX) has soared, with open interest reaching record levels and highlighting heavy leveraged trading.
MYX Finance processed a record $10.3 billion in assets in August, up from $1.6 billion in February.
Monthly volumes have consistently climbed each month since then, extending the upward trend.
MYX Price Shows Overbought Conditions
After a massive 1200% MYX price rally in the last two days, experts are urging caution before opening new positions.
MYX price sees parabolic rally. | Source: Tradingview
Some analysts warn that the rapid gains could be risky, with the possibility of a rug pull or sudden sharp declines, advising investors to stay vigilant.
$MYX hitting $2.6B with zero dev activity is peak 2025 crypto
– dead GitHub repo
– no community
– no fundamentals
– it literally jumped into the top 50 by doing… nothing?either massive insider play or we’re about to witness the most epic rug in history
this won’t end well pic.twitter.com/xXYk1QzIpE
— Budhil Vyas (@BudhilVyas) September 9, 2025
Analysts also point to the possibility of heavy profit-taking for the altcoin. From a technical perspective, the MYX price movement shows a shift from the accumulation phase of Wyckoff theory into the markup phase, which is usually followed by the distribution and markdown stages where selling pressure increases.
After yesterday’s absurd run, I’ve started scaling into shorts.
The price action is not justified (at least for now):
– We’re hitting the range high of the parallel logarithmic channel
– Multiple liquidation clusters are building below
– This was pure market manipulation… pic.twitter.com/Hu0PdjmLcb— Dry Martini (@drymartini777) September 9, 2025
There are currently two other cryptocurrencies showing similar signs of building selling pressure: MemeCore and Virtuals Protocol.
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