{"id":11043,"date":"2025-09-17T20:10:05","date_gmt":"2025-09-17T20:10:05","guid":{"rendered":"https:\/\/bitunikey.com\/news\/myx-finance-price-surges-again-as-funding-rate-points-to-a-crash\/"},"modified":"2025-09-17T20:10:08","modified_gmt":"2025-09-17T20:10:08","slug":"myx-finance-price-surges-again-as-funding-rate-points-to-a-crash","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/myx-finance-price-surges-again-as-funding-rate-points-to-a-crash\/","title":{"rendered":"MYX Finance price surges again as funding rate points to a crash"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">MYX Finance price went parabolic again as the recent short-squeeze resumed. However, the formation of a double-top pattern and the funding rate point to an eventual crash in the coming days.<\/p>\n<div id=\"cn-block-summary-block_998ac1ef3bc3f4b935466350264e3b34\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>MYX Finance price surged again on Wednesday.<\/li>\n<li>The funding rate plummeted, pointing to more downside in the near term.<\/li>\n<li>It has formed a double-top pattern on the daily chart.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>MYX Finance (MYX) came in the spotlight earlier this month as it jumped from $1 to nearly $20 within a days. This surge pushed the token\u2019s fully diluted valuation to over $20 billion.<\/p>\n<p>Some cryptocurrency analysts noted that the surge was likely part of a market manipulation, potentially by insiders. In a post, Bubblemaps said that over 100 active addresses that received 1% of the supply during the airdrop were owned by the same entities, an allegation that its developers denied.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&gt; be MYX Finance<br \/>&gt; launch your token<br \/>&gt; run an airdrop campaign<br \/>&gt; 100 sybil addresses receive 1% of the supply<br \/>&gt; go from 0 to $20B FDV overnight<br \/>&gt; that 1% is now worth $200M<br \/>&gt; people start asking questions<br \/>&gt; drop a long, vague GPT-reply<br \/>&gt; somehow make things even more suspicious<br \/>&gt;\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/YHlo0Sl8xZ\">https:\/\/t.co\/YHlo0Sl8xZ<\/a> <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/5wujlNHXnm\">pic.twitter.com\/5wujlNHXnm<\/a><\/p>\n<p>\u2014 Bubblemaps (@bubblemaps) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/bubblemaps\/status\/1965479082256466347?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">September 9, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Another possible reason for the rally is that the MYX Finance platform is doing relatively well. Data compiled <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/defillama.com\/protocol\/myx-finance?tvl=false&amp;perpVolume=true&amp;groupBy=monthly\" target=\"_blank\" rel=\"nofollow\">by DeFi Llama<\/a> shows that the network has handled perpetual futures worth $5 billion this month so far. It handled volume worth $10.3 billion in July, making it one of the biggest players in the perpetual futures industry.<\/p>\n<p>Still, whether the short squeeze is genuine or part of market manipulation, there are reasons why the token will crash soon.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>One of them is that the funding rate in the futures market has plummeted to the lowest level since August. A falling funding rate is a sign that investors expect the future price to be lower than where it is today.<\/p>\n<p>Also, the ongoing surge is happening in a low-volume environment, which is risky. CoinGlass data shows that the 24-hour volume was $626 million, much lower than $11 billion on Sep. 9. It was the lowest volume since the initial surge earlier this month.<\/p>\n<p>The ongoing MYX surge also resembles that of OnyxCoin (XCN), which surged by over 2,300% within a few days in January. Since then, the token has plunged by over 76% to the current $0.011.<\/p>\n<h2 class=\"wp-block-heading\">MYX Finance technical analysis\u00a0<\/h2>\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">MYX price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The other reason why the MYX price may crash soon is that it has slowly formed the highly bearish double-top chart pattern at $19.13. Its neckline is at $9.92, its lowest level this week. This pattern often leads to more downside over time.<\/p>\n<p>Additionally, the token has become highly overbought, with the Relative Strength Index soaring to 75. In most cases, a highly overbought asset tends to retreat as investors book profits.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MYX Finance price went parabolic again as the recent short-squeeze resumed. However, the formation of a double-top pattern and the funding rate point to an eventual crash in the coming&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=11043"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11043\/revisions"}],"predecessor-version":[{"id":11044,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11043\/revisions\/11044"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/3172"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=11043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=11043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=11043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}