MYX（MYXFinance） fluctuates 174% in 24 hours: zkSyncEraV2 upgrade and surge in trading volume drive rebound

Volatility Overview

In the past 24 hours, MYX price rebounded from a low of $0.2265 to a high of $0.6206, currently trading at $0.3029, with an amplitude of 174.0%. Trading volume surged significantly to $118 million (a 951% increase), with some platforms such as Bitget recording a 4.7-fold increase to $13.52–14.55 million. Perpetual contract open interest increased, and positive funding rates further amplified volatility.

Brief Analysis of the Price Movement

• zkSync Era V2 upgrade launched the Matching Pool Mechanism, improving on-chain derivatives capital efficiency and ZK proof technology. As a deeply integrated ecosystem token, MYX directly benefited, triggering its price to soar 200% from $0.20 to a peak of $0.60.

• On the MEXC platform, MYXUSDT perpetual contracts were dominated by buying pressure, with trading volume multiplying several times, triggering a short squeeze and technical breakout (above the $0.25 resistance). There were no evident large whale orders or official announcements, but the low circulating supply (28%) is easily influenced by capital flows.

• Overall, derivatives open interest rose and funding rates turned positive, coupled with capital rotation within the DeFi sector.

Market Views and Outlook

The mainstream community sentiment is FOMO-driven “no seller” frenzy, with trading signals optimistic about a short-term rebound to $0.65–$0.70, but cautioning a potential retest of the $0.30–$0.38 support zone. Leading analysts highlight the strong speculative nature, with network activity (DAA) lagging, and warn that the absence of organic demand could lead to a “dead cat bounce.” Risks include profit-taking, low liquidity, and potential manipulation, and it is advised to maintain positions above $0.35.