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Recently, the $MYX contract market has shown some interesting phenomena. On one hand, the strength of shorting is gradually increasing, and the proportion of bearish traders in the contracts is on the rise. However, at the same time, the number of addresses holding $MYX Tokens is continuously increasing, and this seemingly contradictory phenomenon has attracted the market's follow.
It is worth noting that multiple accounts regarded as 'smart wallets' frequently buy $MYX, indicating that certain investors still hold an optimistic view of the Token. According to data from the Coinwings platform, large transactions (commonly known as whale dynamics) are very active in both buying and selling activities, seemingly caught in a tug-of-war situation.
Analyzing these phenomena, we can speculate that there may be large funds intentionally controlling the price fluctuations of $MYX. This practice is usually interpreted as the market makers maintaining stability in the market to avoid sharp price fluctuations. Such operations may be to build up strength in preparation for future market conditions.
Although the overall altcoin market is showing signs of recovery, the unique trend of $MYX is worth close attention from investors. When making investment decisions, it is essential to consider various factors comprehensively and not be misled by superficial phenomena. Whether choosing to go long or shorting, it should be based on thorough market analysis and risk assessment.