Merchants that speculate on the native token of Myx Finance (Myx) They were in a rude awakening this week, with more than $ 40 million liquidated in the last 24 hours as the gloomy project continued its increase of $ 0.10 to $ 16 in the last 60 days.
The cryptographic analyst Skew wrote in X that Myx “quite quite quoted between $ 2 and $ 4”, but things began to be questionable during a specific short presuid that sent the token of $ 4 to $ 8.
“Clearly after that movement, a liquidity provider or the market manufacturer were made massive, especially with considerable liquidations that occurred,” they added.
Myx Finance is a decentralized exchange that has only $ 55 million in total value blocked (TVL) and $ 5 million in open interest, being eclipsed by the tastes of hyperlichids that have $ 712 million and $ 12.8 billion respectively.
Despite the greatest disparity, MyX has a completely diluted value of $ 17.7 billion, rivaling the Hype market capitalization of $ 17.5 billion. It is worth noting that more than 80% of myx supply is currently blocked, with only 197 million tokens circulating, which means that assets could be prone to manipulation with a supply as restricted as several merchants pointed out in X.
The rapid appearance of MyX has seen that it becomes the 36th largest cryptocurrency for market capitalization.
