The cryptocurrency market experienced a notable uptick on Monday, August 4, 2025, as Bitcoin (BTC) rebounded from a weekend low of $112,000 to $114,300. This recovery spurred significant gains among several altcoins, with MYX Finance (MYX), Treasure (MAGIC), and Stellar (XLM) leading the charge.
MYX Finance Surges Ahead of V2 Launch
MYX Finance emerged as the top gainer, with its token price soaring by 131% to reach $0.2945, marking its highest level since March 16. This surge propelled MYX’s market capitalization to over $36 million.
The primary driver behind this impressive performance is the robust activity on MYX’s perpetual trading platform. Data indicates that the platform’s trading volume exceeded $9.07 billion over the past 30 days, with $285 million recorded in the last 24 hours alone. July saw the platform’s monthly volume hit a record high, underscoring growing user engagement.
Anticipation surrounding the upcoming V2 launch has also contributed to the token’s upward trajectory. While specific details remain under wraps, potential enhancements include a matching pool mechanism, zero slippage, and chain abstraction, all aimed at redefining on-chain trading.
Treasure’s MAGIC Token Climbs as Exchange Balances Decline
Treasure’s MAGIC token experienced a 15% increase, reaching its highest point since April 30. This marks a 235% rise from its lowest point earlier this year.
On-chain data reveals a significant reduction in MAGIC’s supply on exchanges, dropping from 193 million in July to 164 million. Such a decline suggests that investors are moving their tokens off exchanges, indicating a preference to hold rather than sell.
Stellar’s XLM Rises Amid Technical Breakout and Increased Stablecoin Supply
Stellar’s XLM token climbed to $0.4100, up 15% from its weekend low. This rally coincided with the stablecoin supply within Stellar’s ecosystem surpassing $652 million for the first time, and the total value locked in its DeFi network rising to over $142 million.
The price surge followed the completion of a falling wedge pattern—a technical indicator often signaling a potential bullish breakout. This pattern, combined with the recent increase in stablecoin supply and DeFi activity, suggests a strengthening position for Stellar in the market.
Market Outlook
The recent bullish pattern in Bitcoin has had a ripple effect across the cryptocurrency market, benefiting altcoins like MYX Finance, Treasure, and Stellar. Investors are closely monitoring these developments, with particular attention to upcoming platform upgrades and on-chain metrics that may influence future price movements.
*Please note that cryptocurrency investments carry inherent risks, and it’s essential to conduct thorough research or consult with a financial advisor before making investment decisions.*
also read:How U.S. Economic Trends Impact Bitcoin Prices and Investor Strategies