Crypto Market RoundUp Sept 12: Why MYX Finance token price falls?

What Happened In Crypto Market Today: BlackRock’s tokenized ETF plans

The cryptocurrency market capitalization rose to $4.11 trillion, marking a 1.8% increase in the last 24 hours. Trading activity remained robust, with $163 billion. Bitcoin is still dominating with 56% trading as the number one cryptocurrency, followed by Ethereum with 13.3%. As of today, 18,715 cryptocurrencies are being tracked, which is indicative of the growth of the digital asset landscape.

Major Crypto Events Today

Source: Forex Factory

24 Hour Crypto Market Update

Bitcoin price today reached $115,610, up by 1.4% with trading volume $47.4 billion and market cap $2.3 trillion in the last 24 hours.

Top 5 Trending Cryptocurrencies Today:  Linea (LINEA) traded at $0.02381, down by 1%, with a trading volume of $291 million. Pump. Fun (PUMP) gained 2.5% to reach $0.005899, supported by a strong $921 million turnover. Hyperliquid (HYPE) slipped slightly, 1.3% to $56.7, with $943 million in trades.

Top 3 gainers:  Xiaobai led the rally with a massive 94.2% jump to $0.04562, backed by $8.6 million in trading volume. Ethernity Chain (ERN) soared 81.5% to $1.59 despite a relatively low volume of $212K. Meanwhile, Ket (KET) climbed 66.3%, reaching $0.0954 with $2.25 million traded.

Top 3 losers:  The biggest declines were led by MYX Finance (MYX), which plunged 31.8% to $12.07 with a hefty $351.4M in trading volume. Comedian (BAN) followed, dropping 18.0% to $0.0832 on nearly $15 million volume. Meanwhile, Avantis (AVNT) slipped 16.2% to $0.2956 with $134.5 million traded.

The stablecoin market cap is $291 billion with a slight increase of 0.3% in the past 24 hours, with a massive $117 billion in trading volume.

Decentralized Finance (DeFi)  has posted strong gains, with the market cap rising to $175 billion, up 2.3% in the last 24 hours. DeFi is now 4.3% of the global crypto market with a $10 billion trading volume.

Fear and Greed Index Today

Source: Alternative Me

The crypto market sentiment has turned to Greed, with the Fear & Greed Index at 57 today, up from Neutral levels of yesterday (54) and last week (48). Compared to last month’s stronger Greed score of 73, sentiment has cooled but still reflects rising investor confidence.

Latest Market News Today

The MYX token’s sudden rise wasn’t natural but a planned trap. Whales drove prices upwards, causing a massive short squeeze and bringing in retail traders with FOMO. Just as hype peaked, 39 million tokens were unlocked, giving insiders the perfect chance to sell. Retail investors became exit liquidity, while manipulators profited by harvesting both longs and shorts.

BlackRock is planning for exchange-traded funds (ETFs) on-chain through tokenization. The move could enable investors to trade ETFs around the clock, use them as collateral in crypto networks, and access them worldwide. The plan, which is still awaiting regulatory approval, would be a huge step in combining traditional finance with blockchain technology.

South Korea's leading exchange, Upbit, listed Holoworld AI (HOLO) token in KRW, BTC, and USDT pairs with a minimum sell price of 920 KRW. Also, Pumpfun (PUMP) got listings on Upbit (KRW, USDT) and Bithumb (KRW). Pumpfun (PUMP) also gained listings on Upbit (KRW, USDT) and Bithumb (KRW). Binance joined in by adding PUMP with USDT and TRY pairs, boosting excitement around both tokens.

U.S. inflation picked up in August, with CPI rising 2.9% year-on-year, the biggest jump in seven months, and 0.4% month-on-month. Core CPI stayed steady at 3.1% annually and 0.3% monthly, in line with expectations. Despite the stronger inflation data, markets believe the Federal Reserve will still move ahead with a rate cut next week amid labor market weakness.

Forward Industries (FORD), a Nasdaq-listed company, has just closed a $1.65 billion private placement to form the largest Solana-focused corporate treasury. Backed by Galaxy, Jump Crypto, and Multicoin Capital with over $300 million, the deal also brings new board leadership. Shares jumped 15% pre-market as FORD aims to rival early crypto treasury adopters like MicroStrategy.

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