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$63,585.00 -1.16708
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$3,401.92 -0.13708
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$567.92 -0.94405
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$157.17 -0.40968
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$0.0000262 -3.60113
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Bitcoin (BTC)
$63,585.00 -1.16708
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Ethereum
Ethereum (ETH)
$3,401.92 -0.13708
Ethereum price
BNB
BNB (BNB)
$567.92 -0.94405
BNB price
Solana
Solana (SOL)
$157.17 -0.40968
Solana price
XRP
XRP (XRP)
$0.5495910 -10.94213
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000171 -9.11443
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 -3.6344
Pepe price
Bonk
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$0.0000262 -3.60113
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Bitcoin
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$63,585.00 -1.16708
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Ethereum
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$3,401.92 -0.13708
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BNB
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$567.92 -0.94405
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Solana
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$157.17 -0.40968
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XRP
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$0.5495910 -10.94213
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Shiba Inu
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$0.0000171 -9.11443
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Pepe
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$0.0000115 -3.6344
Pepe price
Bonk
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$0.0000262 -3.60113
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Bitcoin
Bitcoin (BTC)
$63,585.00 -1.16708
Bitcoin price
Ethereum
Ethereum (ETH)
$3,401.92 -0.13708
Ethereum price
BNB
BNB (BNB)
$567.92 -0.94405
BNB price
Solana
Solana (SOL)
$157.17 -0.40968
Solana price
XRP
XRP (XRP)
$0.5495910 -10.94213
XRP price
Shiba Inu
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$0.0000171 -9.11443
Shiba Inu price
Pepe
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$0.0000115 -3.6344
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$0.0000262 -3.60113
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Pyth Network’s token launch hits $468m cap, airdrops to 90k wallets

pyth-networks-token-launch-hits-468m-cap-airdrops-to-90k-wallets
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Pyth Network’s token launch hits $468m cap, airdrops to 90k wallets

Pyth Network’s token debuts with a $468 million market cap and an innovative airdrop to 90,000 wallets.

Pricing oracle service Pyth Network today launched its cryptocurrency token PYTH, immediately gaining a substantial market presence. As of its first trading day, the token’s market capitalization was approximately $468 million, with its value initially set at around $0.53 per token, fluctuating to $0.34.

Pyth Network issued an airdrop to about 90,000 wallet holders. These recipients are granted a 90-day window to claim their PYTH tokens, playing a pivotal role in the network’s on-chain governance processes.

The launch saw 1.5 billion tokens enter circulation, representing 15% of the total supply. The rest, comprising 85% of the total, will be gradually released over a period ranging from six-to-42 months. Notably, 255 million tokens were specifically allocated for the airdrop event.

Pyth Network’s operational scale is significant, with a reported total value secured (TVS) of $1.5 billion across 120 different protocols. This positions Pyth as the fourth largest pricing oracle in the sector. For context, Chainlink, a leading competitor, secures $14.7 billion in TVS, as per data from DeFiLlama.

The network distinguishes itself by aggregating first-party pricing data from exchanges and institutional traders, which is then integrated into smart contracts, providing a robust and reliable data source for various defi applications. This approach has contributed to the substantial TVS and its rapid ascent in the highly competitive oracle market.