MYX Finance (MYX) experienced a significant price surge, with the token rising almost 31% to trade around $3.18, making it the top gainer in the market. Volume spiked more than 63%, and the price chart showed a clear breakout from the $2.40–$2.60 range into the $3.20+ zone, indicating renewed momentum and trader attention.
The rally was primarily driven by the Chainlink integration in October, which gradually attracted new users and enhanced the project's credibility as a reliable DeFi tool. This steady growth built underlying pressure, culminating in today's explosive move. On-chain data from DeFiLlama revealed record-high performance, with revenue hitting $24,329 and fees reaching $81,651 in the past 24 hours, signaling strong user activity and functional product appeal.
Derivatives markets saw open interest surge to $46.17 million, up 23%, with a positive OI-weighted funding rate indicating dominant long positions. Short liquidations totaled approximately $123,000, far less than long positions, reinforcing bullish sentiment. However, liquidity clusters above and below the current price warn of potential sharp swings; if MYX fails to hold above $2.96, the rally could lose steam, while clearing the $3.30–$3.50 resistance could target $4.00.
Gate.io traders contributed significantly with nearly 689,000 MYX in volume, and low-float token dynamics amplified the move. Despite a slight rise in total value locked (TVL) to $23.47 million, investor caution persists. Overall market conditions remained steady, with Bitcoin at $91,868 and Ethereum at $3,094, providing a supportive backdrop for MYX's breakout.
