Why is MYX Finance Price Skyrocketing 70% Today?

MYX Finance, the native token of the non-custodial DEX, is booming today with a sharp price rally, witnessing a 70% surge. In this, the token has set a new ATH, reaching further milestones, especially as the last few days have not been very favorable for the digital assets. The volatility of cryptocurrencies and the turbulence of macroeconomic events impacted the broader market. However, MYX is among the few exceptions, defying the trends.

4 Reasons Why MYX Finance Price is Surging

With a 70% surge today, MYX token is trading at $1.88 with $296.93 million market capitalization. Notably, the surge isn’t limited to today; instead, the MYX Finance price has surged 1650% over the week, showcasing long-term bullish momentum. In this, it has hit a new ATH of $2.09 just hours ago as the FOMO and investor demand built as the broader crypto market rallies. 

Binance Alpha listing

Listing on the popular crypto exchanges, including the Binance Alpha, has fueled the MYX Finance price rally today. With increased visibility and credibility following the listing, investors have begun interacting with the token, resulting in high trading volume and a price surge.

CoinMarketCap data reveals that MYX’s trading volume has surged 115% today, currently at $300.85 million. Additionally, experts noted that the listing influenced the Binance Futures volume to surge $6-7 billion in a little buying spot, bullish for the token.

Perpetual Volume Surge and Technical Breakout

According to DefiLlama, the perpetual volume has hit over $9.18 billion in the last 30 days, setting a record. In the 24-hour period, it has hit $335.63 million amid the anticipation of the V2 launch and more.

Recently, MYX Finance’s X post stating that ‘V2 is coming’ influenced the price breakout. The price chart also reveals a breakout from the symmetrical triangle, confirming the bullish uptrend today. Although the token has witnessed a correction after setting the ATH, experts like Victor see a further upwards trend.

$16.67 million Liquidation & Buyback

As the price increased with volume, a major liquidation took place for the short position holders. Conglass notes that a whopping $16.67 million got liquidated, out of which $11.74 million were shorts, creating a buying pressure on the tokens as the trader bought back in.

FOMO and Token Unlocks

As the MYX Finance price began skyrocketing, FOMO built among investors eager not to miss the opportunity. More and more buyers connected and influenced its price. Interestingly, the top meme coins category also witnessed significant interest this week, as attention shifted from bigger altcoins to these.

Additionally, the token unlock, scheduled for today,  August 6, also influenced the MYX surge. Nearly 4% of the total supply, equivalent to 39 million tokens, would unlock today.

JUST IN: $MYX is up 298% ahead of a 39M token unlock scheduled for tomorrow. pic.twitter.com/DHZ1dEF61e

— CoinGecko (@coingecko) August 5, 2025

Notably, some users like WazzCrypto and others also speculate on market manipulation. They expressed concern over massive perpetual volume vs low real spot buying, but there’s no confirmed evidence. For now, MYX has become the biggest gainer of the week, and investors are eyeing further rallies for this and the rest of the crypto prices.