MYX Finance (MYX) price just shot up 289%: Here’s why

• MYX Finance (MYX) price has skyrocketed amid hype around its upcoming V2 upgrade.
• Binance listing has also boosted the token’s visibility and sparked retail FOMO.
• MYX Finance TGE, two months ago, saw 30,296% oversubscription, fueling early demand.

While the cryptocurrency market is no stranger to wild price swings, the recent surge in MYX Finance (MYX) has grabbed the attention of traders and analysts alike.

Over the last 24 hours, MYX token soared by an astonishing 289%, briefly hitting an all-time high of $0.989 before pulling back to $0.8810 at press time.

This dramatic rally has sparked widespread interest, especially as MYX Finance cements its position in the DeFi derivatives landscape.

The spike in MYX’s value is not just a fluke. It is the result of several fundamental developments, market hype, and strong trading performance.

Notably, investors are flocking to take part in what they believe could be a long-term uptrend as the MYX Finance platform prepares for a major upgrade.

The MYX Finance V2 upgrade buzz

A major driver of the MYX price rally is the heightened anticipation surrounding its upcoming V2 launch.

Although the development team has not yet disclosed a release date, speculation around the upgrade has been intense.

Many believe that V2 will significantly enhance MYX Finance’s trading experience by introducing zero-slippage execution, advanced chain abstraction, and improvements to its proprietary matching pool mechanism.

These features are expected to bring a more seamless and efficient trading model to on-chain users.

The protocol’s monthly volume has already hit an all-time high, reaching $9.07 billion over the past 30 days, with $285 million traded in just the last 24 hours.

This surge in usage indicates a rapidly growing interest in the MYX platform ahead of the much-anticipated upgrade.

And because the MYX token plays a key role in accessing these features, such as discounted trading fees, demand for the token has skyrocketed.

Early MYX TGE hype laid the groundwork

Long before this week’s rally, MYX Finance had already generated buzz within the DeFi community.

On May 6, 2025, the project held its token generation event (TGE) on Binance Wallet.

The event was a massive success, with a staggering 30,296% oversubscription. Over $51 million in trading volume was recorded within the first 24 hours.

This early success helped MYX dominate the BNB Chain DEX space, quickly accumulating $35.2 million in total value locked (TVL).

Participation in the TGE required at least 142 Alpha Points, a structure that helped drive deep community engagement and strengthen early demand for the token. Since then, the project has maintained a strong narrative of growth and innovation.

Binance spotlight ignites FOMO

In addition to the protocol’s organic growth, MYX recently received a significant boost in visibility after becoming the top gainer on Binance.

On August 4, the token’s price jumped by 138% in a single day, triggering a 711% increase in daily volume to $46 million.

This momentum was further amplified by social media activity, including a tweet from the MYX team quoting Binance founder CZ, which drew tens of thousands of views.

While the rally looks attractive, the token’s Relative Strength Index (RSI) hit 97.45, an indication that it is heavily overbought.

MYX Finance price outlook

Despite the rapid price rise, traders remain sharply divided on MYX’s short-term outlook.

The upcoming V2 release could mark a significant turning point, but only if user adoption continues to scale and on-chain activity holds up.

On the flip side, MYX’s low market cap and retail-heavy volume mean it remains susceptible to pump-and-dump cycles and sudden reversals.

Nevertheless, with strong backers like Sequoia China, HashKey Capital, and ConsenSys, as well as a growing presence across major chains like Arbitrum, Linea, and BNB Chain, MYX Finance is building more than just hype.

The coming weeks will reveal whether it can convert this momentum into sustainable growth or whether this explosive rally is a short-lived spike.