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MYX token drops 12% amid large transfers raising supply concerns

Technical Signals
21 Jun 2026, 23:00 WIB
AMBCrypto
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Bearish
MYX token drops 12% amid large transfers raising supply concerns

MYX Finance's token price fell over 12% following large transfers of about 80 million MYX tokens worth $10.4 million, raising fears of increased market supply. This selling pressure led to a surge in long liquidations and a drop in open interest, signaling bearish sentiment. The token broke below a key support level of $0.1876 after months of consolidation, but if buyers reclaim this level, the decline may reverse. Otherwise, MYX could face continued downward pressure as sellers dominate despite a slightly rising broader crypto market.

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