空军司令员72号

Author: zhou, ChainCatcher

Since September, the cryptocurrency market has staged a series of brutal harvesting performances, from MYX, AIA to COAI, where the manipulators and project parties have joined forces to use high control and manipulation means to sweep away the retail investors' funds. Despite the obvious signs of harvesting, there is still a large group of users in the market looking forward to the next 'hundredfold coin', fearing they might miss the opportunity to get rich.

The evolution of the 'harvesting template' from MYX to COAI

The beginning of this scene started from MYX.Finance, a decentralized derivatives exchange based on the Arbitrum chain, whose token MYX was launched on Binance Alpha in early September with an initial market value of about 100 million USD and relatively flat trading volume. In early September, MYX suddenly ignited and surged, with its market value rapidly rising to over 3 billion USD, and then entered a high-level fluctuation stage, accompanied by daily 'needle-style lifting' and pullbacks, with funding rates turning negative and the top ten addresses holding over 95% of the positions. According to coinglass data, on September 18, MYX rose 298.18% in a single day, with an intraday volatility of up to 317.11%, with short positions liquidated totaling 52,086,300 USD and long positions liquidated totaling 10,510,900 USD. At the beginning of October, the price entered a waterfall-style decline, although there were brief rebounds during this period, it quickly continued to plummet, and thereafter MYX continued to decline, with its market value currently falling back and stabilizing at around 500 million USD.