MYX Finance (MYX) has crashed 23.6% to $2.17 in the past 24 hours, marking one of the most severe single-day declines among top-200 cryptocurrencies. The dramatic selloff has wiped $127.5 million from the platform’s market capitalization, which now stands at $414 million.
Massive Price Collapse Accelerates
The decentralized finance platform’s token plunged from a 24-hour high of $2.85 to its current low of $2.17, representing an intraday decline of nearly 24%. Trading volume surged to $25.3 million as investors rushed to exit positions.
The selloff extends a brutal week for MYX Finance holders, with the token down 66.4% over the past seven days. The monthly performance shows an even grimmer picture, with MYX declining 60.4% in the past 30 days.
Market Cap Ranking Under Pressure
Despite the sharp decline, MYX Finance maintains its position at rank #112 by market capitalization. However, the token’s circulating supply of 190.77 million MYX represents just 19% of the total 1 billion token supply, suggesting significant future dilution risk.
The fully diluted valuation stands at $2.17 billion, meaning if all tokens were in circulation at current prices, the market cap would be more than five times larger than present levels.
Distance from All-Time High Widens
MYX Finance is now trading 88.1% below its all-time high of $19.03, reached on September 11, 2025. The token has given back virtually all gains made during last year’s rally, when it surged more than 4,700% from its June 2025 all-time low of $0.047.
The hourly chart shows continued weakness, with MYX declining an additional 4.1% in just the past 60 minutes, suggesting selling pressure remains intense.
What Traders Need to Know
MYX Finance operates as a decentralized perpetuals trading platform, competing in the increasingly crowded DeFi derivatives space. The protocol allows users to trade perpetual contracts with leverage on various crypto assets.
The current price action indicates a loss of confidence among investors, though no specific catalyst has been publicly identified for today’s accelerated decline. With only 19% of tokens currently circulating, unlocks or increased selling from early holders could contribute to ongoing pressure.
Market participants should exercise extreme caution given the high volatility and significant downside momentum. The 24-hour price range of $2.17 to $2.85 represents a 31% spread, indicating unstable price discovery.
As of 1:37 AM UTC on February 15, 2026, MYX Finance continues trading near session lows with no signs of stabilization.
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About the Author: Ananya Melhotra
