MYX token trade, MyX Decentralized Exchange (DEX) cryptocurrency, featured hallmarks of market manipulation, according to a report from the AI infrastructure company Rena Labs and Market Intelligence Company Insider.Cash.
The report reviewed more than 9,200 minutes-by-mins data points between Sept. 9 and Monday, which found 249 trading anomalies about stiffness, volume of spikes, price ratios and trade intensity.
Researchers found that MYX liquidity anomalies at the gate exchange were that 433% on September 9, with a total of 32 events on Sunday and Monday, which signed either Market manipulation meant or the release of market makers, which Provide liquidity and pillows markets In times of intense stress.
The average MYX trade size contracted by 67% during the “peak” stiffness, and the trading frequency also fell 45% during the observed trading period, falling to 86 trade per minute to 157, while the bid-ask spread to 8.2% from Monday from 15.8% in Sept. 9.
Related: What is MYX Finance and why is it up 1,400% in seven days?
The spreading bids, the difference between buying and selling prices, usually expands during increased stiffness and contracts when high liquidity. The “irony” bid-ask behavior that spreads during the climax of the climax is also a red flag for researchers. They write:
“The temporal synchronization of intense deviation from other independent metrics of market microstructure is strongly suggesting coordinated, multi-vector manipulation techniques, rather than organic trading activities driven by basic news or natural market force.”
Spokespersons from the Rena Labs told Cointelegraph that the possibility of all anomalies in all four market sizes – impotence, volume of spikes, price ratios and trading intensity – at the same time – at the same time are under 0.001%, which effectively produces the possibility of organic trading activity “a math that is impossible.”
Cointelegraph reached MYX Finance but did not receive a response at the time of publication.
Bubblemaps sound alarm to MYX token Airdrop
On September 9, Blockchain Analytics platform bubblemaps claimed that the recent MYX token Airdrop may be the subject of Sybil’s largest attack in crypto history.
An attack on Sybil is a type of malicious activity in which the actor’s threat creates many accounts that are all controlled by a single creature, giving the impression of organic network activity.
Bubblemaps say that a creature, controlling 100 newly funded purses, consumed more than 9.8 million MYX tokens and made a $ 170 million revenue from the AirDrop token.
Magazine: What exactly do crypto market makers do? Liquidity, or manipulation
