In Brief
- Bybit has confirmed the delisting of Myria (MYRIA) token along with other affected tokens from its trading platform.
- The MYRIA token has seen a significant drop in price, plummeting by over 50% in the past month, along with a steep decline from its all-time high.
- Myria, primarily an Ethereum layer 2 ecosystem for gaming, faces community concerns regarding token inflation and ecosystem viability following the delisting announcement.
Myria Delisting Announcement
Bybit, a well-known cryptocurrency exchange, has officially announced the removal of the MYRIA/USDT trading pair from its platform. This decision extends to several other tokens including G3, MDAO, and ELDE, as detailed in a notification on the exchange’s official website. Users have been advised to complete their withdrawals promptly as the trading of these tokens will cease by November 19, following the closure of deposits on November 15.
Community Reaction to the Delisting
The delisting announcement has spurred considerable unrest within the Myria community, particularly evidenced by user comments on social media platforms like X and Telegram. Community members have expressed their dissatisfaction primarily concerning the downturn in $MYRIA price and the project’s ongoing development challenges.
A Difficult Month for MYRIA’s Price
Recent statistics from CoinMarketCap indicate that MYRIA’s value has sharply decreased, with a reduction of more than fifty percent over the last 30 days, now valued at approximately $0.00023. The token’s market cap stands around $8.6 million, alongside a daily trading volume of $2.7 million. The current price marks a decline of about 98.22% from its all-time high, emphasizing a significant downward trend.
Overview of Myria
Myria operates as an Ethereum layer 2 ecosystem tailored for the gaming industry, featuring a range of development tools, an NFT platform, and a marketplace equipped with blockchain infrastructure to support faster and cheaper game transactions. The project has garnered attention for its substantial offerings and partnerships within the gaming community.
Furthermore, a critical component of Myria’s offering includes its node network, which reportedly generates approximately 726 MYRIA tokens daily. This immense production rate has sparked concerns regarding potential long-term inflation, especially amidst diminishing market demand.
Future Prospects and Community Expectations
Following the delisting from Bybit, one of its major trading venues, MYRIA’s liquidity is expected to take a hit, compelling users to pivot towards smaller or decentralized exchanges. The Myria team has not yet disclosed any plans for new listing partnerships nor adjustments to their node emission rates, which continue to produce around 726 MYRIA tokens per day for each node license.
Despite these hurdles, the project continues to operate, though the community remains eager for clarity and reassurances about the future of the token economy and the broader ecosystem development.