Recently observed the MYX project, and there are a few things that seem suspicious. Sharing for reference.

First, let's talk about the price. This coin's surge is quite outrageous—rising hundreds of times in a short period, with a market cap once exceeding 2 billion USD. This valuation is obviously inflated and feels unrealistic.

Looking at on-chain data, the locked-in amount is only a few tens of millions of USD. Given such a high market cap, the locked-in amount should be much higher, which suggests that the actual number of users participating in trading and providing liquidity might be limited.

I also specifically checked their platform, which only has about ten cryptocurrencies, and they deliberately do not display daily trading volume data—this is very suspicious. Most legitimate platforms would publicly show trading volumes, right? The overall atmosphere is quite dull, reminiscent of less reputable projects.

As for early investors like Sequoia China, while they seem to provide some endorsement, angel investors usually have strong exit demands and may even have betting agreements. Under such circumstances, there's a strong motive to manipulate the coin's price to pump and dump.

These are just my personal observations. If you're considering participating, be extra cautious. Proceed at your own risk.