MYX Token Drop 58% After Big Hack And VC Sell-Off After Unlock
Di MYX token drop reach 58% afta one scheduled token unlock weh release 1.28 million tokens for market. Hack VC claim dese tokens from one airdrop contract den do two big sell-off transactions weh make market liquidity scatter, cause rapid drop for price. On-chain data show sey Hack VC get MYX tokens worth about $2.16 million. Dis kain event show how token unlock fit bring wahala for price. Traders suppose dey watch vesting schedules, expect possible supply spike and manage their risk well well by diversification and proper research about tokenomics.
Bearish
Di sharp 58% fall afta di token unlock and how Hack VC quickly sell off dey show say market dey under bearish pressure. Similar tins like big token releases from early investors dey usually cause quick sell-offs and thin liquidity, as we don see before for other projects like different vesting unlocks onEthereum-based tokens. For short term, traders fit still face more drop as holders dey exit dia positions. For long term, lower prices fit attract value buyers if di project fundamentals still dey strong, but ppl go still dey cautious about upcoming unlocks.