The total pledge value of Pyth Network approaches US$1 billion! Python soared 40% in a single day!

The total pledge value of Pyth Network has recently reached US$1 billion. This is mainly because Pyth Network provides data for multiple projects. The market generally expects that staking Pyth tokens may bring airdrop rewards from new projects, which has attracted a large number of Users make pledges.

According to data from the Dune Analytics platform, approximately 1.255 billion Pyth tokens have been pledged, with a total pledge value of more than $990 million, and the number of pledgers has exceeded 190,000.

The oracle project in the Solana ecosystem, Pyth Network’s native token $Pyth, has rapidly risen to become the second largest project in the oracle field since its airdrop in mid-November last year. . The latest news shows that $Pyth is about to be listed on the Korean exchange. This news has promoted a huge increase in the price of the token.

$Pyth surged 40% in the past 24 hours

According to OKX spot price data, the price of $Pyth was originally hovering around $0.55, but suddenly surged nearly 25% at 10 o'clock this morning, exceeding $0.73. Then, at around 1 p.m., it quickly rose by 8% again, reaching a high of $0.818, setting an all-time high.

The price fell back before the deadline, temporarily trading at $0.7764, up 40% in the past 24 hours. The market value has exceeded US$1.162 billion, ranking 78th in the cryptocurrency market value rankings.

Upbit and Bithumb will be listed at 5pm today

The price of $Pyth has risen sharply today, which is likely related to the official announcement of the listing of Upbit and Bithumb, the top three exchanges in South Korea, at about 1pm .

According to the official announcement, trading will be available starting at 5 pm today. On Upbit, spot trading of Korean Won and Bitcoin is available. On Bithumb, only Korean won transactions are supported. Both exchanges only accept deposits from the Solana network.

In the past, there have been many cases where Korean currency speculators have driven market hot spots, such as STORJ, 1inch, SpaceID, and the lawsuit-concept concept currency Ripple (XRP). These tokens have all appeared due to the hype. The market calls this phenomenon the "Kimchi premium".

Because of these past cases, when a token is about to be listed on a Korean exchange, it will often encourage the price of the token to rise. This time, after $Pyth is listed on Upbit and Bithumb, it is very likely that there will be a premium, which will increase its trading popularity. Investors should pay attention to market fluctuations.

The total staking value of Pyth is approaching $1 billion

In addition, because Pyth Network provides data to multiple projects, this has led to widespread expectations in the market that staking $Pyth tokens may receive rewards from new projects. Airdrop rewards, thus attracting a large number of users to stake.

According to data from the Dune Analytics platform, approximately 1.255 billion $Pyth tokens have been pledged, with a total pledge value of more than $990 million, and the number of pledgers has exceeded 190,000.

Today’s top 10 gainers

##Investing in virtual currencies requires caution. Investors should fully understand the market conditions and related risks. , formulate reasonable investment strategies and avoid blindly following the trend or impulsive trading. At the same time, you also need to pay attention to complying with relevant laws and regulations to avoid losses caused by illegal activities.

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