Recent analysis from Rena Labs and Insider.Cash has indicated that trading patterns for the MYX token are likely a result of market manipulation, with a probability of organic trading activity being less than 0.001%. The report examined over 9,200 data points from September 9 to September 11, identifying 249 trading anomalies related to illiquidity, volume spikes, price ratios, and trading intensity. Notably, liquidity anomalies saw a 433% spike on September 9, with significant illiquidity events occurring over the following days. The study highlighted inconsistencies in average trade sizes and trading frequency, alongside unusual behavior in bid-ask spreads, suggesting coordinated manipulation efforts rather than typical market reactions. Rena Labs stated that the simultaneous occurrence of these anomalies is statistically improbable, underpinning the manipulation theory. Additionally, a claim from Bubblemaps reported that a Sybil attack may have influenced a recent MYX airdrop, where one entity reaped over $170 million from the claimed tokens.

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