Flow

Token

Ronin

Pyth Network

<a href="https://bitcoinworld.co.in/how-is-pyth-network-pyth-doing-since-binances-listing/" title="How Is Pyth Network (PYTH) Doing Since Binance’s Listing?" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">Pyth Network (PYTH) surged by more than 11% since its listing on the Binance platform, but the trend might change soon.</li> 
 <li style="font-weight: 400">Bearish sentiment around PYTH increased despite its bullish price action.&nbsp;</li> 
 <li style="font-weight: 400">Ronin’s price also registered an uptick in the last 24 hours.&nbsp;</li> 
</ul> 
It has been a week since the world’s largest exchange, Binance [BNB], listed Pyth Network [PYTH] on its exchange.&nbsp; 
The listing had a positive impact on the token, as its price gained bullish momentum. 
Therefore, Bitcoinworld planned to take a closer look at how PYTH was performing. 
<h3 id="span-style-font-weight-400-a-look-at-pyth-after-the-listing-span">A Look At PYTH After The Listing</h3> 
Bitcoinworld <a href="https://bitcoinworld.co.in/pyth-price-surged-20-after-binance-listing-announcement-will-this-momentum-last/">reported</a> last week how PYTH reacted when the Binance listing news broke. The token’s value at that time spiked by over 20%. 
The news, coupled with PYTH’s price gains, sparked bullish sentiment around the token as investors expected the token’s price to reach new highs. The gains continued throughout the last week. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/shiba-inus-shibarium-skyrockets-375-as-shib-price-soar-towards-0-00001/" aria-label="“Shiba Inu’s Shibarium Skyrockets 375% as SHIB Price Soar Towards $0.00001” (Edit)">Shiba Inu’s Shibarium Skyrockets 375% as SHIB Price Soar Towards $0.00001</a> 
According to Coinstats, PYTH’s <a href="https://coinstats.app/coins/pyth-network/">price</a> witnessed a decline until the 9th of February. However, since then, the token’s value has spiked by double digits. 
<figure id="attachment_65659" aria-describedby="caption-attachment-65659" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-65659" src="https://bitcoinworld.co.in/wp-content/uploads/PYTH-Price-Chart-3-483x300.png" alt="" width="705" height="438" srcset="https://bitcoinworld.co.in/wp-content/uploads/PYTH-Price-Chart-3-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/PYTH-Price-Chart-3.png 760w" sizes="(max-width: 705px) 100vw, 705px">
 <figcaption id="caption-attachment-65659" class="wp-caption-text">
 PYTH Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
The token’s price increased by over 11% last week, and at press time, it was trading at $0.5489 with a market capitalization of over $823 billion. 
It was surprising to note that despite the bullish price action, PYTH’s Social Volume declined, meaning that its popularity dropped last week. 
Additionally, its Weighted Sentiment also sank, indicating that bearish sentiment around the token was dominant in the market. 
<figure id="attachment_65639" aria-describedby="caption-attachment-65639" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-65639" src="https://bitcoinworld.co.in/wp-content/uploads/PYTH-Sentiment-720x244.webp" alt="" width="755" height="256" srcset="https://bitcoinworld.co.in/wp-content/uploads/PYTH-Sentiment-720x244.webp 720w, https://bitcoinworld.co.in/wp-content/uploads/PYTH-Sentiment-1080x365.webp 1080w, https://bitcoinworld.co.in/wp-content/uploads/PYTH-Sentiment-1440x487.webp 1440w, https://bitcoinworld.co.in/wp-content/uploads/PYTH-Sentiment-768x260.webp 768w, https://bitcoinworld.co.in/wp-content/uploads/PYTH-Sentiment-1536x520.webp 1536w, https://bitcoinworld.co.in/wp-content/uploads/PYTH-Sentiment.webp 2048w" sizes="(max-width: 755px) 100vw, 755px">
 <figcaption id="caption-attachment-65639" class="wp-caption-text">
 PYTH Sentiment
 </figcaption>
</figure> 
&nbsp; 
Things on the derivatives front have also changed over the last few days.&nbsp; 
This was evident from the fact that Pyth Network’s Funding Rate declined, suggesting that Futures investors weren’t actively buying PYTH. 
Nonetheless, Coinglass’ <a href="https://www.coinglass.com/currencies/PYTH">data</a> revealed that PYTH’s Open Interest remained high at the time of writing, indicating that the bull rally might continue further. 
<figure id="attachment_65640" aria-describedby="caption-attachment-65640" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-65640" src="https://bitcoinworld.co.in/wp-content/uploads/PYTH-Open-Interest-720x165.webp" alt="" width="833" height="191" srcset="https://bitcoinworld.co.in/wp-content/uploads/PYTH-Open-Interest-720x165.webp 720w, https://bitcoinworld.co.in/wp-content/uploads/PYTH-Open-Interest-1080x247.webp 1080w, https://bitcoinworld.co.in/wp-content/uploads/PYTH-Open-Interest-1440x330.webp 1440w, https://bitcoinworld.co.in/wp-content/uploads/PYTH-Open-Interest-768x176.webp 768w, https://bitcoinworld.co.in/wp-content/uploads/PYTH-Open-Interest-1536x352.webp 1536w, https://bitcoinworld.co.in/wp-content/uploads/PYTH-Open-Interest.webp 2048w" sizes="(max-width: 833px) 100vw, 833px">
 <figcaption id="caption-attachment-65640" class="wp-caption-text">
 PYTH Open Interest
 </figcaption>
</figure> 
&nbsp; 
To get a better understanding of whether the ongoing price uptrend would last, Bitcoinworld took a look at PYTH’s daily chart. 
Our analysis revealed that both Pyth Network’s Relative Strength Index (RSI) and Money Flow Index (MFI) were near the overbought zone. 
This can exert selling pressure on the token and put an end to its bull rally. The Chaikin Money Flow (CMF) also turned bearish, as it was resting well below the neutral mark at press time. 
Nonetheless, the MACD displayed a bullish advantage in the market. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/popular-altcoin-astar-astr-sets-date-for-update-to-reduce-token-inflation/" aria-label="“Popular Altcoin, Astar (ASTR), Sets Date For Update To Reduce Token Inflation” (Edit)">Popular Altcoin, Astar (ASTR), Sets Date For Update To Reduce Token Inflation</a> 
<h3 id="span-style-font-weight-400-binance-also-listed-ronin-span">Binance Also Listed Ronin</h3> 
Like PYTH, Binance also recently <a href="https://twitter.com/Ronin_Network/status/1754515201372877079">listed</a> yet another token, Ronin [RON]. The token shared a similar fate as PYTH, as it also witnessed a <a href="https://coinstats.app/coins/ronin/">price</a> hike in the recent past. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 BREAKING NEWS: <a href="https://twitter.com/search?q=%24RON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RON</a> / <a href="https://twitter.com/search?q=%24RONIN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RONIN</a> TRADEABLE ON BINANCE 
 After 2 years of relentless pursuit and unwavering support, the moment our community has been asking for has come. 
 This is a big step towards the world discovering the secret that we all know: Ronin is THE gaming chain. 
 Welcome… <a href="https://t.co/WjvYkLJfhr">pic.twitter.com/WjvYkLJfhr</a> 
 — Ronin (@Ronin_Network) <a href="https://twitter.com/Ronin_Network/status/1754515201372877079?ref_src=twsrc%5Etfw">February 5, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Realistic or not, here’s PYTH market cap in BTC’s terms 
According to CoinMarketCap, RON was up by more than 7% in the last seven days. However, things changed in the token’s favor in the last 24 hours, as its value surged by over 8%. 
At the time of writing, RON was trading at $2.80 with a market capitalization of over $829 million. 
<blockquote>
 Disclaimer: The information provided is not trading nor financial advice. Bitcoinworld.co.in holds no liability for any trading or investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any trading or investment decisions.
</blockquote> 
&nbsp; 
#Binance #WRITE2EARN 
The post <a href="https://bitcoinworld.co.in/how-is-pyth-network-pyth-doing-since-binances-listing/">How Is Pyth Network (PYTH) Doing Since Binance’s Listing?</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

How Is Pyth Network (PYTH) Doing Since Binance’s Listing?

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