More Than $40M Liquidated as Market Makers Suffer Shattering MYX Short Squeeze

Core Insights - MYX Finance's native token (MYX) experienced significant volatility, with over $40 million liquidated in a single day as its price surged from $0.10 to $16 over the past 60 days [1][2] - The token's price movement included a targeted short squeeze that escalated its value from $4 to $8, raising concerns about market manipulation [1][2] - MYX Finance, a decentralized exchange, has a total value locked (TVL) of $55 million and open interest of $5 million, which is significantly lower compared to competitors like HyperLiquid [2] - Despite its lower TVL, MYX has a fully diluted market value of $17.7 billion, closely rivaling HyperLiquid's market cap of $17.5 billion [3] - Over 80% of MYX's supply is currently locked, with only 197 million tokens in circulation, indicating potential for price manipulation due to the limited supply [3] - MYX has rapidly ascended to become the 36th largest cryptocurrency by market cap [3]