Recently, MYX has dropped to 2 cents, and my private messages are almost flooded with questions. Everyone is asking, “It’s fallen so much—can I buy the dip?” Let me respond to everyone in a unified way: my answer is very clear—I won’t buy, and there’s no rush.

Speaking of which, I was still focusing on tracking this coin when it first launched last year. Back then, I spent more than two months digging through its data carefully, and I even wrote a lot of financial analysis reports to share with everyone. But honestly, after that deep-dive research phase ended, I haven’t followed it anymore. For an asset that has lost its information advantage, blindly jumping in is a big taboo.
Many people think that falling to 2 cents is a golden opportunity, but from several angles, it still isn’t a good buying point right now:
First, the valuation isn’t cheap. Don’t be fooled by the fact that the price is only 2 cents—its current market cap is still over 200 million. In today’s market environment, this pricing has no safety margin.
Second, the fundamentals are questionable. I haven’t seen the latest official financial data for now, and given the contraction in the current environment, I estimate the financial reports won’t look too good. The only thing that makes me feel fairly good about it is that the UI page looks quite nice—but relying on a pretty interface alone can’t prop up a market cap.
Third, the core issue is that competition is too fierce. When we researched the DEX sector last year, it was already very crowded; now it’s even more like a fight among gods, a battle for a shrinking pool. MYX hasn’t built an absolute moat, and in this brutal slaughter, it’s very easy to get pushed to the margins.
Putting the project itself aside, the current macro environment is even more worth being cautious about. Market sentiment is fragile right now, and everyone is guessing whether the market will directly switch back to a bear market next. If it’s a bear market, nobody knows where the bottom is. You have to remember that in a bear market, a slow grind down combined with sideways trading for a year or so is completely normal.
At this kind of juncture, saving your strength and holding tight to your “ammunition” (stablecoin) is what matters most. Don’t get a FOMO illusion just because you “think it has fallen too much” and go rushing to buy the dip; a lot of the time, there’s a basement below the floor.
To sum it up: I don’t plan to buy MYX. Not only because its sector is competitive and the data is not transparent, but also because on a macro strategy level, now is not the time to fire recklessly. Watch more, act less, make it through the winter—surviving is more important than making a quick profit. $MYX