MYX Finance is experiencing an impressive surge as its native token, MYX, has skyrocketed over 1,700% since last Tuesday, setting a new all-time high of $17.95. This dramatic increase comes amid a staggering $880 million in spot trading volume since yesterday, positioning it as one of the most actively traded altcoins in the crypto market.
Several factors are contributing to this spectacular rise. A combination of market hype, significant fundamental developments, and short squeezes has fueled demand. Notably, a token listing linked to former President Donald Trump, a large-scale token airdrop, and the anticipation surrounding an upcoming V2 upgrade that promises zero-slippage trading have all created a perfect storm for MYX.
However, historical trends indicate that such explosive price movements may not be sustainable. Current analysis of MYX’s daily and weekly charts suggests that it appears overbought, leading savvy traders to begin reallocating their investments. This shift raises an important question: Which altcoins should investors consider as alternatives?
Bitcoin Hyper (HYPER) is gaining attention as a promising altcoin. Advertised as a “true” Bitcoin Layer-2 solution, it seeks to enhance Bitcoin’s capabilities without altering its core code. Instead, it relies on Bitcoin’s main blockchain for security while implementing a new execution layer that promises to process thousands of transactions per second, coupled with lower fees.
The project has already raised $14.6 million during its presale, with early investors showing increased interest; one whale recently made a single investment exceeding $13,000. If Bitcoin Hyper successfully achieves its planned 2025 mainnet launch and enters exchanges, it could potentially trigger a wave of BTC-native decentralized finance (DeFi), payment solutions, and Web3 gaming. Stakeholders can also participate in its presale with attractive APYs of up to 75%.
Another noteworthy option is Best Wallet Token (BEST). This token is associated with the Best Wallet app, a non-custodial, no-KYC mobile crypto wallet that accommodates over 60 blockchains. The app provides various functionalities, including token swaps, cross-chain routing, staking, and portfolio tracking. Holding BEST tokens offers tangible benefits within the app, such as reduced trading fees, higher staking yields, governance rights, and exclusive access to upcoming vetted crypto presales. Future plans include linking BEST to a crypto debit card, promising cashback rewards.
The presale for BEST has raised $15.6 million, with tokens priced at $0.025615 and staking yields reaching an impressive 85% APY. The app’s established user base and solid ratings suggest that BEST offers a compelling opportunity in today’s altcoin landscape.
Ethena (ENA) is also making waves in the DeFi space by addressing the complex issue of the stablecoin trilemma. Its synthetic dollar, USDe, maintains its peg through a delta-neutral strategy that employs collateral like ETH, hedged with short derivative positions. This means it can keep its price stable while allowing holders to earn returns through funding rates and staking rewards—all without relying on traditional banking or fiat reserves.
ENA serves as the governance token for the Ethena ecosystem, enabling holders to influence decisions on various aspects, including risk parameters and collateral types. As the adoption of USDe grows, the inherent value of holding ENA could increase significantly.
While MYX Finance currently captivates headlines, alternative projects like Bitcoin Hyper, Best Wallet Token, and Ethena are quietly positioning themselves for potential future growth. Investors looking beyond the immediate volatility of MYX may find opportunities in these innovative altcoins.
