MYX Finance Surges 24% as Open Interest and Funding Rates Signal Break Above $0.50

MYX Finance jumps 24% on rising OI and funding rates, with a breakout above key levels; traders eye a potential flip of $0.50 and a bullish trend.

Rich by Coin

2026-03-15

MYX rallied by more than 24% in the past 24 hours, which took the weekly gains to 48%. The short-term price action of MYX was driven by Open Interest (OI), positive Funding Rates, and a spike in long orders. There was also a spike in short liquidations, which accelerated the gains. About $122K in short orders were wiped out, which was more than 4x that of long orders at $25K.

Additionally, the OI-Weighted Funding Rate has been green since mid-February, when the levels dropped sharply. As per the data, this metric reading was at 0.0076%. On the charts, the altcoin had broken above the consolidation range between $0.2883 and $0.3378. The breakout was confirmed with a retest that came as another consolidation above $0.3378.

The MACD’s histogram bars were rising, indicating bull strength. This was evident as the altcoin was printing huge bullish candles, with the price approaching a lower high in the $0.5050 zone. BTC was trading above $71,000, reflecting strength in the broader crypto market. Flipping the lower high at $0.50 could change the outlook to be bullish, potentially leading to a return to $1 or higher levels.