MYX Finance sinks 33%, yet TVL hits $27.6M ATH – Here’s how
The post MYX Finance sinks 33%, yet TVL hits $27.6M ATH – Here’s how appeared on BitcoinEthereumNews.com.
Key Takeaways What signals a potential rebound for MYX despite its recent drop? Rising TVL, record protocol revenue, and a positive funding rate suggest bullish momentum may be building. What key level must MYX hold to avoid further downside? MYX must defend the $2.3 support zone to prevent increased bearish control and deeper price declines. MYX Finance [MYX] has seen a major outflow in the past day, losing about 33%, at press time, amid a broader market backdrop where it rallied over 395% in the past month. AMBCrypto analysis shows that the fall was driven by a steep decline in market funding rates, which dropped significantly to a negative 0.0033%. This suggests that short traders are now paying more in funding fees, highlighting a shift in sentiment across the derivatives market. Despite this drop, there are early signs of positive momentum building on the protocol that could eventually trigger renewed growth in MYX’s price. Protocol growth still in place The recent market drawdown has not reflected the on-chain activity or performance of the protocol. In fact, MYX’s underlying health remains surprisingly bullish, as investors continue to maintain a long-term positive outlook on the token’s price. The Total Value Locked (TVL), which measures protocol growth, has continued to increase, hitting an all-time high of $27.6 million, according to the latest data from DeFiLlama. Source: DeFiLlama Notably, both fee generation and revenue from the protocol have moved in tandem, confirming active user participation and transaction growth on-chain. Revenue and fees generated in the past day also reached their all-time highs since the protocol’s launch earlier this year—coming in at $6,700 and $567, respectively. Growth amid negative outlook Despite the recent drop, the outlook in the derivatives market suggests that bulls are slowly recovering and may soon make a full return. According to…
Filed under: News - @ October 5, 2025 3:03 am