MYX Finance plunges 30% in 24 hours, tumbling below $4 as sell-off accelerates MYX Finance (MYX), the Sequoia- and Consensus-backed decentralized liquidity protocol, plunged more than 30% over the past 24 hours, slipping below the $4 mark and briefly trading around $3.88 on Feb. 11, 2026. The token was the worst-performing asset among the top 100 coins on Wednesday, extending a sell-off that has wiped out gains from highs near $6.90 reached last month. Prices are now hovering at levels last seen in early January. Broader market weakness amplifies losses The MYX rout occurred amid a broader market pullback that saw Bitcoin dip back under $66,000. Other mid-cap names including Arbitrum, Bittensor, World Liberty Financial and Jupiter also fell, but none matched MYX’s steep slide. Market sentiment has swung toward “extreme fear,” and BTC’s inability to hold above $70k — with intraday falls toward $65k — has intensified liquidations and panic selling across altcoins. On-chain and trading signals point to capitulation CoinMarketCap data show MYX’s daily trading volume spiked nearly 120% as prices cratered, a classic sign of heavy selling pressure and capitulation. DeFiLlama metrics underscore the weakening fundamentals: MYX’s total value locked (TVL) has dropped to about $27 million, and protocol fees — a key source of revenue — have declined as institutional interest appears to cool. Open interest in MYX perpetual futures has also collapsed to roughly $26 million, down from more than $182 million in October 2025 and $59 million in early January. Technical outlook: downside risks remain Technically, MYX looks bearish. The token has broken decisively below a multi-week ascending channel that supported its year-to-date runup, and it sits under an important ascending trendline that dates to November 2025. The daily RSI is sliding toward oversold territory — signaling weakening momentum, though not yet at extreme oversold levels. Immediate psychological support sits near $3.60; a breach below $3.00 could open the road to a deeper demand zone around $1.85. Any relief rally would face stiff resistance, first around $4.80 from nearby supply clusters and ultimately near the recent peak at $6.90. Bottom line MYX’s sharp drop combines a risk-off crypto environment, elevated selling volumes, shrinking TVL and lower open interest in derivatives — a mix that favors continued downside unless broader market sentiment stabilizes or buying interest returns. Traders should watch BTC for signs of recovery and monitor on-chain liquidity and futures open interest for potential stabilization in MYX. Read more AI-generated news on: undefined/news