Solana

Security

Pyth Network

Pyth Network (PYTH) is gaining significant traction within the world of <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrencies</a> as the token is currently witnessing a colossal price surge.
Moreover, the token is emerging as one of Chainlink’s top competitors within the crypto markets, grabbing significant attention among crypto traders and investors.
Chainlink, known as the oracle of networks, recently emerged as one of the leading cryptocurrencies in the market as the token witnessed an upsurge, breaking the multi-year consolidation.
<h2 id="pyth-network-here-s-all-you-need-to-know">Pyth Network: Here’s All You Need To Know</h2>
Pyth Network is a comprehensive decentralized protocol that offers real-time financial data to <a href="https://coingape.com/glossary/defi-decentralized-finance/" target="_blank" rel="noopener noreferrer nofollow">DeFi</a> applications, enhancing their functionality and reliability.
The platform was initially designed for Solana, but soon migrated to its own blockchain, Pythnet, following a surge in market interest. However, the Pythnet blockchain itself is based on the Solana technology.
PYTH, Pyth Network’s native cryptocurrency token, marked the beginning of its crypto venture following an airdrop that could be staked by users.
Subsequently, as trading for the token started, it amassed significant attention within the broader crypto markets, reaching an all-time high before crashing drastically. The radical price plunge witnessed by PYTH in the past appears to come forth as a result of users selling the free airdropped tokens, resulting in a price plunge from $0.65 to $0.277.
Since its inception, the PYTH price has consistently traded in an upward parallel channel, accruing gains for subsequent price movements. Despite a decrease in volume, bulls seem to maintain substantial control. As a result, there’s an expectation that the price will sustain a noticeable upward trend following consolidation within&nbsp;tight&nbsp;ranges.
Also read: <a href="https://coingape.com/binance-to-delist-btc-and-eth-margin-trading-pairs-amid-legal-woes/" target="_blank" rel="noopener noreferrer nofollow">Binance To Delist BTC And ETH Margin Trading Pairs Amid Legal Woes</a>
<h2 id="pyth-price-evaluation">PYTH Price Evaluation</h2>
As of writing, the Pyth Network price witnessed a phenomenal surge of 25.94% over the past twenty-four hours, reaching&nbsp;$0.4607. Although the token witnessed a substantial decrease of 30.54% over the past seven days, it soared whoppingly today.
Furthermore, the twenty-four-hour trading volume also experienced a significant upswing of 70.16%, reaching $243.79 million at the time of writing. The aforementioned data illustrates increasing bullish sentiments orbiting the token within cryptocurrency markets.
Also read: <a href="https://coingape.com/crypto-hacks-surge-in-november-sparking-concerns-over-digital-asset-security/?" target="_blank" rel="noopener noreferrer nofollow">Crypto Hacks Surge in November, Sparking Concerns Over Digital Asset Security</a>
The post <a rel="noopener noreferrer nofollow" href="https://coingape.com/pyth-network-pyth-maintains-bullish-sentiment-amid-impressive-price-surge/">Pyth Network (PYTH) Maintains Bullish Sentiment Amid Impressive Price Surge</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coingape.com">CoinGape</a>.

Pyth Network (PYTH) Maintains Bullish Sentiment Amid Impressive Price Surge

Table of Contents

Coingape News Media

Other articles published on Nov 23, 2023

Algebra DEX Engine Introduces 'Integral' & its Sushi Integration Proposal (23 Nov)

Whale Activity Is Experiencing This Memecoin! Transaction Volumes Started to Increase!

Appeals Court rejects Sam Bankman-Fried release request

Petualangan Antar Planet Kripto: Ethereum, ApeMax, dan GameStop Memes

Controversial Theory Claims Crypto Market Rally is a Manipulated Bear Market

OpenAI Management Faces Lawsuit as CEO Sam Altman Is Dismissed

Join our free newsletter for daily crypto updates!