In the Crypto Assets market, the MYX Token recently staged a thrilling price upheaval. According to Foresight News, the price of the MYX Token skyrocketed from $0.113 to $2.1 within just three days, with an increase of over 1800%, sparking heated discussions in the market. However, the good times were short-lived, as just 24 hours later, the MYX price plummeted by 60%, dropping to $0.8237, and is currently hovering around $1.05.

Behind this dramatic price volatility lies a thought-provoking market trend. On-chain analyst @ai_9684xtpa revealed that the early investment institution Hack VC extracted 1.27 million MYX from the airdrop contract within 7 hours, valued at approximately 2.157 million dollars. Even more noteworthy is that 445,000 MYX were sold off through an address starting with 0x259 at an average price of 1.68 dollars, cashing out 747,000 dollars.

This large-scale sell-off immediately triggered panic in the market, leading to a rapid depletion of liquidity for MYX Token. During this round of plummet, the daily trading volume of MYX contracts on the Binance platform soared to $7 billion, with both long and short positions engaging in fierce competition.

Looking back at the development history of MYX.Finance, the project received funding at a valuation of $50 million in November 2023. However, the current market performance seems to contrast sharply with the earlier high valuation.

This event once again highlights the high-risk characteristics of the Crypto Assets market and has sparked discussions about the long-term value of projects and the behavior of investment institutions. For investors, this is undoubtedly a warning: in a highly volatile market, it is essential to remain rational and carefully assess the actual value and potential risks of projects.

At the same time, this event has also sparked a reflection on the governance structure of Crypto Assets projects and the Token distribution mechanism. How to balance the interests of early investors with the long-term development of the project, and how to establish a more transparent and fair Token release mechanism, are issues worthy of in-depth discussion in the industry.

Despite the drastic price fluctuations that MYX has experienced, its future development still holds uncertainties. Market participants will continue to pay attention to the subsequent actions of the MYX team, as well as the project's technical innovations and the expansion of application scenarios. In the ever-changing world of Crypto Assets, only projects that truly hold value can stand firm in the long term.