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Why is crypto going down? MYX Finance, Worldcoin, Pepe lead losses
NFT Gaming

Why is crypto going down? MYX Finance, Worldcoin, Pepe lead losses

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The crypto market is going down today, Sept. 19, with popular tokens like MYX Finance, Worldcoin, and Pepe among the top laggards.

Summary

  • The crypto market is crashing as profit-taking continues.
  • MYX Finance, Worldcoin, and Pepe were among the top laggards.
  • The drop is also happening after the Federal Reserve cut.

Bitcoin (BTC) price dropped to $116,000, while other large names like Dogecoin (DOGE) and Ethereum (ETH) fell by over 3% in the last 24 hours.

MYX Finance (MYX) price dropped to $11.77, down by over 35% from its highest point this week. Sam Altman’s Worldcoin (WLD) plunged to $1.5170, down by 31% from the YTD high, while Pepe (PEPE) is down by over 15% from this week’s high.

Crypto going down amid profit-taking

One of the main reasons the crypto market is going down is profit-taking among investors following days of strong gains. Indeed, a look at some of the top laggards shows they were the biggest gainers during the week.

Pepe Coin was up by 40% from its lowest level this month, while MYX Finance jumped by almost 2,000%. Worldcoin jumped by 167% from its lowest point this month after Eightco launched a WLD treasury and named Dan Ives as a director. 

It is common for the stock and crypto markets to take a breather after a big rally. This scenario has been more pronounced in the crypto industry recently, with any rally finding substantial resistance.

Selling the news after the Fed interest rate cut

The other main reason crypto is going down is that investors are selling the news after the Federal Reserve’s interest rate cut. In a statement on Wednesday, the FOMC slashed rates by 25 basis points and hinted at more cuts at its next meeting.

A Federal Reserve cut is typically bullish for Bitcoin and other cryptocurrencies. However, this cut was priced in by market participants, with Polymarket odds of a cut above 90% before the meeting.

Bitcoin price rising wedge pattern

BTC price chart | Source: crypto.news

Additionally, crypto traders are likely concerned that the Bitcoin price has formed a rising wedge and a bearish divergence pattern. A rising wedge is composed of two ascending and converging trendlines, and a bearish breakout happens when the two lines are about to converge.

The Relative Strength Index has formed a descending channel, a sign of bearish divergence. These two patterns point to a Bitcoin crash, which may impact other altcoins.



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MYX Finance price surges again as funding rate points to a crash
GameFi Guides

MYX Finance price surges again as funding rate points to a crash

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MYX Finance price went parabolic again as the recent short-squeeze resumed. However, the formation of a double-top pattern and the funding rate point to an eventual crash in the coming days.

Summary

  • MYX Finance price surged again on Wednesday.
  • The funding rate plummeted, pointing to more downside in the near term.
  • It has formed a double-top pattern on the daily chart.

MYX Finance (MYX) came in the spotlight earlier this month as it jumped from $1 to nearly $20 within a days. This surge pushed the token’s fully diluted valuation to over $20 billion.

Some cryptocurrency analysts noted that the surge was likely part of a market manipulation, potentially by insiders. In a post, Bubblemaps said that over 100 active addresses that received 1% of the supply during the airdrop were owned by the same entities, an allegation that its developers denied.

> be MYX Finance
> launch your token
> run an airdrop campaign
> 100 sybil addresses receive 1% of the supply
> go from 0 to $20B FDV overnight
> that 1% is now worth $200M
> people start asking questions
> drop a long, vague GPT-reply
> somehow make things even more suspicious
>… https://t.co/YHlo0Sl8xZ pic.twitter.com/5wujlNHXnm

— Bubblemaps (@bubblemaps) September 9, 2025

Another possible reason for the rally is that the MYX Finance platform is doing relatively well. Data compiled by DeFi Llama shows that the network has handled perpetual futures worth $5 billion this month so far. It handled volume worth $10.3 billion in July, making it one of the biggest players in the perpetual futures industry.

Still, whether the short squeeze is genuine or part of market manipulation, there are reasons why the token will crash soon.

One of them is that the funding rate in the futures market has plummeted to the lowest level since August. A falling funding rate is a sign that investors expect the future price to be lower than where it is today.

Also, the ongoing surge is happening in a low-volume environment, which is risky. CoinGlass data shows that the 24-hour volume was $626 million, much lower than $11 billion on Sep. 9. It was the lowest volume since the initial surge earlier this month.

The ongoing MYX surge also resembles that of OnyxCoin (XCN), which surged by over 2,300% within a few days in January. Since then, the token has plunged by over 76% to the current $0.011.

MYX Finance technical analysis 

MYX price chart | Source: crypto.news

The other reason why the MYX price may crash soon is that it has slowly formed the highly bearish double-top chart pattern at $19.13. Its neckline is at $9.92, its lowest level this week. This pattern often leads to more downside over time.

Additionally, the token has become highly overbought, with the Relative Strength Index soaring to 75. In most cases, a highly overbought asset tends to retreat as investors book profits.





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Crypto Price Today (September 12): Myx Surges 23% As Altcoins Doge And Sol Gain
GameFi Guides

MYX Surges 23% as Altcoins DOGE and SOL Gain

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The crypto market is in green today even as investors settle for the weekend. Currently, major tokens are up an average of 2-5% in 24 hours. As a result of that, the overall market capitalization has increased by 1.59% to $4.02 trillion, almost hitting its all time high of $4.05 trillion set in July.

DOGE & SOL Surge 6% in 24 Hours

Dogecoin (DOGE) and Solana (SOL), both ranked within the top 20 cryptocurrencies by market capitalization, saw their prices spike by 6% each over the last 24 hours, according to data from CoinMarketCap.

At the time of writing this report, DOGE is trading for $0.2638, up from a daily low of $0.2493 during the Asian trading session. Meanwhile, DOGE’s market capitalization increased to $39.82 billion, despite a 1.58% drop in trading activity to $3.73 billion.

SOL is currently trading for $239.29. Over the last 24 hours, the token has experienced a 33% surge in trading activity, which led to $12.01 billion. The token saw momentum during the Asian session when it was trading $234, then surged $241 before dropping a brief.

MYX Finance Surge 23% from Previous Day

MYX Finance (MYX) saw the most gains, climbing over 23% over the same period. The price surge was accompanied by a 23% increase in trading activity, which resulted in a trading volume of $3.54 billion.

Meanwhile, the token initially saw a drop during the Asian trading hours, when it dipped down to $10.5, before surging back up during the New York session to trade at $18.08.

Market Sentiment

The recent price action aligns with a shift in investor sentiment toward altcoins. According to the Altcoin Season Index, sentiment has moved to 67%, indicating that traders are increasingly focusing on non-Bitcoin cryptocurrencies. This sentiment shift comes even as the overall market sentiment, as measured by the Fear and Greed Index, remains neutral at 50%.

The market rally occurred alongside a period of significant liquidations from leveraged trading. According to data from Coinglass, a total of 105,839 trades were liquidated yesterday, resulting in $286.24 million in total liquidations.

Long-position traders, who bet on rising prices, were liquidated for $67.45 million, while short-position traders, who bet on falling prices, saw $218.94 million in liquidations, suggesting a sharp, unexpected price move upwards.

Also Read: Gemini Space Station Prices IPO at $28 per Share



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MYX
NFT Gaming

Inside Job? MYX Airdrop Scandal Hits $170 Million

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

MYX Finance, a decentralized exchange, is under fire after reports disclosed that close to 10 million MYX tokens — valued at about $170 million at the time — were claimed by a cluster of addresses tied to the project.

Based on reports, on-chain investigators flagged a pattern that suggests many of the claims came from wallets created and used in a coordinated way.

100 Wallets Funded, Then Claimed

According to blockchain trackers, about 100 newly created wallets were funded on April 19 and then used to claim airdrop rewards on May 7.

The timing and similarity of the transactions drew attention because the wallets followed an almost identical sequence of steps: funding, claiming, and then moving tokens.

Reports have disclosed that the total amount moved represented about 1% of MYX’s total supply, a large share for an early distribution program.

BREAKING: The $MYX team is directly tied to wallets that claimed $170M from their airdrop

Inside job?

Here’s what we know 🧵 pic.twitter.com/Kq1ubEgUBU

— Bubblemaps (@bubblemaps) September 11, 2025

Suspicious Transfers Point To Project Links

On-chain evidence has been presented that ties at least one of the claiming wallets to a creator-linked address. Investigators say wallet 0x4a31 sent nearly $3 million worth of MYX to a deposit address, 0xeb5A, which is alleged to be linked to a creator’s wallet, 0x8eEB.

These transfers formed part of the narrative that led observers to call the episode a possible Sybil attack — where one actor controls many addresses to claim disproportionate rewards.

MYXUSDT currently trading at $18.10. Chart: TradingView

Team Denies Wrongdoing, Promises Fixes

MYX Finance has rejected claims that the core team orchestrated a coordinated grab. The project acknowledged that some people asked to change addresses before launch and said some incentive streams had differing anti-Sybil protections.

Based on reports, the team emphasized that a separate campaign called “Cambrian” included stricter checks, and it said it will tighten protections going forward.

Price Reaction And Community Backlash

Market reaction was swift. Reports indicate the token price fell as trust eroded among traders and holders. Community voices on social platforms called for clearer audits and for the team to publish a transparent ledger of airdrop recipients.

Some holders demanded that questionable tokens be frozen or returned, while others warned that strong legal or regulatory moves could follow if proof of intentional misconduct appears.

Investigators say the on-chain patterns are suggestive but not conclusive proof of an inside job. According to reports, links between wallets rely on behavioral analysis and the trace of transfers; critics argue these methods can point to correlations without proving direction or orders.

Featured image from Meta, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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Here’s why crypto coins like MYX Finance, Story IP, and Worldcoin are rising
NFT Gaming

Here’s why crypto coins like MYX Finance, Story IP, and Worldcoin are rising

by admin



The crypto market came under pressure on Sept. 9, with Bitcoin and major coins such as Solana, Ethereum, and XRP falling while a handful of altcoins moved higher.

Summary

  • MYX Finance price continued rising after the Gate.io listing.
  • Story price jumped after Heritage Distilling launched an IP treasury.
  • Worldcoin price jumped as Eigtco started WLD accumulation. 

The market capitalization of all coins dropped by 1% to $3.94 trillion, continuing a recent trend. Still, some crypto coins like MYX Finance (MYX), Story (IP), and Worldcoin (WLD) were up by 100%, 31%, and 15%, respectively. 

MYX Finance price jumps after Gate listing

MYX Finance price has gone parabolic in the past few days, which some traders attribute to market manipulation. It moved from $0.177 in August to a record high of $18, with its market capitalization jumping to over $3.5 billion. Its 24-hour volume rose to nearly $1 billion.

MYX price continued its uptrend after Gate.io, one of the top crypto exchanges, listed it. It is common for cryptocurrencies to jump after being listed by a major exchange.

There is a risk, however, that the MYX Finance price will reverse soon, as it has become highly overbought, with the Relative Strength Index soaring to 97 and forming a double-top pattern. It is also much higher than its moving averages, meaning a mean reversion is possible.

MYX price chart | Source: crypto.news

Story price jumps after Heritage Distilling starts an IP fund

Story price surged to a high of $12, continuing an uptrend that started in June when it bottomed at $2.46. It has crossed the important resistance point at $8, its February high.

The surge coincided with Heritage Distilling launching an IP fund that will invest in the token. This follows its recent PIPE financing that raised $200 million from companies like a16z, Selini Capital, Stix, and Hashed. In a statement, Seung Yoon, the CEO of PIP Labs, said:

“By anchoring our reserves in $IP, we are positioning shareholders to participate in one of the most important shifts of this decade: the intersection of AI, data, and intellectual property.”

Worldcoin price surges after Eightco launches fund

Worldcoin, the crypto project launched by Sam Altman, jumped, reaching its highest point since January. The surge happened after Eightco, a company backed by Bitmine Immersion, launched a $250 million WLD treasury bet. 

Eightco, Heritage Distilling, and other treasury companies are hoping to replicate the strategy’s success. Their hope is that these tokens will jump and boost their stocks in the long term.

The risk, however, is that the model is showing some strain, with most Bitcoin treasury companies like MSTR, Metaplanet, and Trump Media remaining in a deep bear market.



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Etherex price gains 40% amid Linea rewards program launch
GameFi Guides

MYX Finance price surges 135% amid manipulation claims

by admin



MYX Finance price surged to a new all-time high, but traders are raising alarms about possible insider activity behind the rally.

Summary

  • MYX’s sharp rally is fueled by surging derivatives activity, with billions flowing into perpetuals and open interest doubling.
  • The timing of a 39 million token unlock has fueled suspicions of insider selling into retail demand.
  • Community voices warn this may be a coordinated pump-and-dump, echoing patterns seen in Mantra’s collapse earlier this year.

The token traded at $3.68 on Sept. 8, up 135% in the past 24 hours and 214% over the past week. The sharp rise pushed MYX Finance (MYX) to a seven-day range of $0.984 to $3.78, with trading volumes soaring alongside.

In the past 24 hours alone, MYX registered $314.9 million in spot volume, an 829% increase from the day before. Activity in the derivatives market also increased. Perpetual futures volume rose 2,345% to $4.23 billion, according to Coinglass data, while open interest surged 138% to $262.1 million.

These numbers point to both increased market leverage and increased speculative trading. Rising open interest typically signals new positions rather than simple position closing, pointing to traders aggressively chasing the rally. But this also makes the token susceptible to volatility shocks and forced liquidations.

Allegations of insider manipulation

Concerns about the sustainability of the rally surfaced after Web3 commentator Dominic flagged what he described as “questionable activities” to his 44,000 followers on X on Sept. 7. His breakdown accused whales and insiders of orchestrating a pump-and-dump through wash trading, forced short squeezes, and coordinated buying across exchanges.

Some people need jail time for real, today there where some questionable activities going on with $MYX Here’s a more detailed breakdown showing why $MYX looks manipulated and why traders should avoid it:

Several red flags I noticed myself that point to manipulation and insider…

— Dominic(evm/acc)💭 (@0xD0M_) September 7, 2025

Dominic claims that the daily perpetuals volume suddenly jumped to $6–9 billion, which is out of proportion for a token of MYX’s size. Identical trading patterns across Bitget, PancakeSwap, and Binance indicated coordinated whale activity, and over $10 million in shorts were liquidated in a single day.

MYX Finance price rallies despite token unlock

The timing coincided with a major token unlock. Nearly 39 million MYX tokens entered circulation just as the price spiked, allowing early insiders to offload holdings into retail demand. The combination of unlocks and surging derivatives interest is fueling suspicion that the rally has less sustainable momentum and more engineered liquidity.

“These tactics create artificial demand that vanishes once insiders exit,” Dominic wrote, adding that retail traders are being used as exit liquidity.

The concerns mirror April’s Mantra (OM) crash, when OM plunged 90% in an hour after suspected insider token movements. That event wiped out $5.5 billion in market cap and sparked allegations of cross-exchange manipulation, later forcing the project to announce a token burn to restore confidence.





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