Bybit Lists MVLLUSDT Perpetual with 20x Leverage Amid Sharp Price Drop

Bybit has listed a new perpetual contract for MVLLUSDT, offering traders up to 20x leverage. The token, which tracks the GraniteShares 2x Long MRVL Daily ETF, arrives on Bybit futures amid a steep price decline and ongoing delistings on other platforms due to a stock split.

What Happened

MVLL has experienced a dramatic price drop across multiple exchanges. According to price alerts from Binance Futures, the token fell approximately 69% in a single day on June 26, 2026, sliding from around $151.75 to roughly $46.28. The decline was rapid, with the 5-minute interval showing a drop of over 68% from the same starting price.

This sell-off coincides with announcements from Bitget and MEXC that MVLLUSDT stock futures will be delisted on June 25, 2026, due to a stock split of the underlying asset. MEXC confirmed the delisting at 13:00 UTC, and Bitget followed at 9:00 PM UTC+8. The delistings likely triggered a wave of liquidations and panic selling.

Despite these headwinds, Bybit has chosen to list MVLLUSDT perpetuals, providing a new venue for traders who want to speculate on the token's recovery or further decline.

Token Snapshot

MVLL (GraniteShares 2x Long MRVL Daily ETF Derivatives) is a synthetic tokenized asset that aims to deliver twice the daily return of Marvell Technology (MRVL) stock. It is categorized under DeFi, tokenized stocks, and synthetics, and is part of the Binance ecosystem. The token has no reported circulating supply or market cap, and its total supply is not infinite.

• Current price (as of alert): ~$50.28
• 24h change: +17.19% (from the token metadata, though recent data shows a sharp drop)
• Active markets: 6
• Tradable on: Bybit (futures)

Risk Notes

Disclaimer: This is not financial advice. MVLL is a leveraged ETF derivative and carries extreme risk, especially during stock-split events and exchange delistings.

• Stock split impact: The delistings on Bitget and MEXC are directly tied to a stock split of the underlying MRVL shares. Such corporate actions can cause significant price dislocations in synthetic tokens.
• Leverage risk: Bybit offers up to 20x leverage on MVLLUSDT, which can amplify both gains and losses. The recent ~69% drop shows how quickly the token can move.
• Liquidity concerns: With zero reported 24h trading volume and only six active markets, liquidity may be thin, increasing the risk of slippage.
• Regulatory uncertainty: Tokenized stocks and ETFs occupy a gray area in many jurisdictions. Ensure you understand the legal status in your region.

Where to Trade

MVLLUSDT perpetual is now live on Bybit. For automated trading strategies, you can Trade with our bot.