$MYX isn’t a coin that suddenly appeared out of nowhere; it already had liquidity before. Today, it was simply pushed onto the leaderboard by the derivatives side. In the past 24 hours, contract trading volume reached 17.82M USDT. For a target of this size, that isn’t small—indicating it wasn’t lifted to the board by just a few scattered trades. The issue is that on the spot side, no follow-through of the same level has been seen. This structure looks more like capital moving in to claim positions in derivatives first.
I’m not opening $MYX right now for a very specific reason: the funding rate is only +0.0057%, so it isn’t crowded, and the longs haven’t gotten overheated to the point of distortion. But the open interest is already at 76,434,615 MYX, which means the chips have been stacked in. If price rises further, it will become very dependent on subsequent trades. I won’t chase this setup—neither the long nor the short side feels comfortable.
If it pulls back but the position doesn’t drop, and the funding rate keeps getting squeezed lower, I’ll set a small order to test a long. If the price goes sideways and the position keeps building, I’ll flip and look for a short. At this stage, the risk-reward for chasing isn’t good.
You guys—should we categorize $MYX as an emotion-driven ignition, or as capital taking positions ahead of time? $MYX #MYX
Don’t go all-in. If you lose, don’t blame me.
I’m not opening $MYX right now for a very specific reason: the funding rate is only +0.0057%, so it isn’t crowded, and the longs haven’t gotten overheated to the point of distortion. But the open interest is already at 76,434,615 MYX, which means the chips have been stacked in. If price rises further, it will become very dependent on subsequent trades. I won’t chase this setup—neither the long nor the short side feels comfortable.
If it pulls back but the position doesn’t drop, and the funding rate keeps getting squeezed lower, I’ll set a small order to test a long. If the price goes sideways and the position keeps building, I’ll flip and look for a short. At this stage, the risk-reward for chasing isn’t good.
You guys—should we categorize $MYX as an emotion-driven ignition, or as capital taking positions ahead of time? $MYX #MYX
Don’t go all-in. If you lose, don’t blame me.