MYX Finance (MYX) has experienced a severe crash, plunging 32.8% to $1.008 in the past 24 hours, as the decentralized exchange token continues a sharp downward trajectory that has intensified dramatically in recent weeks.
The token hit an intraday low of $1.007 after opening at $1.50, representing one of the steepest single-day declines among major DeFi protocols. Market capitalization contracted by $91.3 million to $193.6 million, dropping the project to rank #173 across all cryptocurrencies.
Severe Multi-Timeframe Decline
The 24-hour crash represents just the latest leg in an extended selloff:
- 7-day decline: -67.15%
- 30-day decline: -80.99%
- 1-hour decline: -5.96%
Trading volume surged to $31.2 million as investors rushed to exit positions, significantly above typical daily volumes for the token. The heightened activity suggests accelerated capitulation among holders.
Distance from All-Time High Widens
MYX Finance reached its all-time high of $19.03 on September 11, 2025. At the current price of $1.008, the token now trades 94.66% below that peak, marking one of the most significant corrections in the DeFi sector.
The fully diluted valuation has dropped to $1.01 billion, with only 190.77 million MYX tokens in circulation from a maximum supply of 1 billion. This represents approximately 19% of total supply currently trading.
Market Context
The collapse comes during a period of heightened volatility across cryptocurrency markets in February 2026. While broader market conditions have contributed to selling pressure, MYX Finance’s decline significantly outpaces major cryptocurrencies and DeFi competitors.
The token remains 2,062% above its all-time low of $0.047 recorded on June 19, 2025, though that historical support level offers little comfort to investors who entered positions during the token’s rally in late 2025.
What This Means for Traders
The severity of the decline and accelerating momentum suggest continued downside risk in the near term. The 5.96% decline in just the past hour indicates selling pressure remains intense with no immediate signs of stabilization.
Key support at the $1.00 psychological level is being tested, with the intraday low of $1.007 representing critical technical support. A break below this level could trigger additional selling pressure.
Market participants should monitor trading volume and volatility closely, as the current price action suggests the selloff may not have reached exhaustion. The substantial gap between current price and fully diluted valuation indicates significant overhang from locked tokens.
Stay informed with daily updates from Blockchain Magazine on Google News. Click here to follow us and mark as favorite: [Blockchain Magazine on Google News].
Disclaimer: Any post shared by a third-party agency are sponsored and Blockchain Magazine has no views on any such posts. The views and opinions expressed in this post are those of the clients and do not necessarily reflect the official policy or position of Blockchain Magazine. The information provided in this post is for informational purposes only and should not be considered as financial, investment, or professional advice. Blockchain Magazine does not endorse or promote any specific products, services, or companies mentioned in this posts. Readers are encouraged to conduct their own research and consult with a qualified professional before making any financial decisions.
About the Author: Ananya Melhotra
