MYX Finance (MYX) Price Prediction

Deep Dive

1. V2 Upgrade Momentum (Mixed Impact)

Overview: MYX’s pending V2 upgrade promises zero-slippage execution and cross-chain capabilities. Historical data shows the protocol processed $9B monthly volume pre-announcement (DefiLlama), but the August 2025 unlock-triggered 58% crash demonstrates how hype can backfire.

What this means: Successful implementation could attract arbitrageurs and increase fee revenue (bullish for token utility). However, delayed delivery or technical flaws – common in rushed upgrades – might trigger selloffs akin to the 11 August 2025 -44% weekly drop.

2. Token Unlock Overhang (Bearish)

Overview: On 6 August 2025, Hack VC dumped $2.15M MYX immediately after a token unlock, crashing prices 58% (NullTX). Another 39M MYX (~3.9% of supply) remains scheduled for release.

What this means: Early backers hold 45% of supply – continued unlocks could sustain downward pressure. The 30-day 969% gain makes profit-taking likely, especially with RSI(7) at 38.16 showing weak momentum.

3. Derivatives Dynamics (Neutral/Bearish)

Overview: Binance’s 11 August 2025 shift to 4hr funding rate settlements for MYXUSDT perpetuals increases position management complexity. While this aligns rates closer to spot prices, it raises costs for carry traders – MYX’s derivatives OI dropped 3.82% post-change.

What this means: Reduced leverage demand could lower protocol fee income, pressuring the $1.05 support. However, tighter rate spreads might attract institutional flow if volatility stabilizes.

Conclusion

MYX’s price trajectory hinges on balancing upgrade-driven utility gains against unlock-induced sell pressure. While the V2 launch could reignite the 1,417% 90d rally, traders should monitor the $1.01 Fibonacci support and September unlock calendar. Will MYX’s matching pool mechanism withstand the next supply flood?