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$MYX Finance price surged 33% after major strategic funding led by Consensys announcement recently.
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Consensys backing increased investor confidence, driving strong demand and rapid $MYX token accumulation globally.
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$MYX trading volume surged over 200%, showing strong participation from retail and institutional investors.
$MYX Finance has emerged as one of the top-performing altcoins today, with the $MYX Finance price jumping more than 33% to trade around $1.24. However, the sharp $MYX price increase comes after a major funding announcement, strong derivatives activity, and growing investor interest ahead of the platform’s upcoming upgrade.
$MYX Finance Received Funding From Consensys
One of the biggest reasons behind the $MYX Finance price surge is its recent strategic funding round led by Consensys, a leading blockchain technology firm known for developing MetaMask and supporting Ethereum infrastructure.
Investors often see funding from well-known firms as a sign of credibility and future growth.
The team made this announcement just before launching $MYX V2, which will introduce new features and improve trading efficiency on the platform. As a result, demand for $MYX tokens increased rapidly.
Derivatives Trading, Liqudation Spark $MYX Price Rally
Another key reason behind the $MYX price rally is strong activity in the derivatives market. $MYX open interest has jumped nearly 30%, showing that many traders opened leveraged long positions expecting further gains.
In the past 24 hours, traders liquidated about $2.11 million in positions, mostly from short sellers. As the price rose quickly, short sellers closed their trades, which pushed the $MYX price even higher.
This short squeeze attracted more traders and increased buying demand.
$MYX Trading Volume Surge 200%
$MYX Finance price also saw a massive spike in trading volume. In the past 24 hours, $MYX trading volume jumped over 200%, reaching approximately $311 million. High trading volume usually confirms strong investor participation and supports price momentum.
This surge in volume shows that both retail traders and institutional investors are actively trading $MYX tokens.
$MYX Finance Price Prediction
Looking at the $MYX 4-hour price chart, it has broken out of its falling channel on the 4-hour chart, showing strong bullish momentum. $MYX Finance price is now testing resistance near $1.73, if $1.20 support holds above.
Further, now all eyes are on today’s PCE data. If momentum continues, $MYX could rally toward $2.00, especially if today’s U.S. PCE inflation data comes below the Now 2.8%.