Pyth Network (PYTH): Is There Still a Chance to Return to ATH?
PYTH surged over 100% in just one day to $0.25 following the news that ChainLink and Pyth Network were selected by the U.S. Department of Commerce to collaborate in publishing official macroeconomic data (such as GDP and the Personal Consumption Expenditures index - PCE) on the blockchain.
Can PYTH return to its previous all-time high (ATH) in the future?
Pyth Network is a decentralized oracle specializing in providing real-time financial data for blockchain applications, particularly in DeFi (decentralized finance), GameFi, and smart contracts, with its main competitor being Chainlink.
Market Cap Comparison: PYTH: $1.29B vs. LINK: $16B
ATH: PYTH: $1.16, current price: $0.18
To return to its previous peak, PYTH’s market cap would need to reach approximately $8.3B, roughly half of Chainlink’s. However, Pyth currently holds only a 6.35% market share in the oracle sector, about one-tenth of Chainlink’s 61.85%. Notably, Pyth focuses on a niche segment rather than offering the diverse services of Chainlink, making it challenging for PYTH to achieve a new ATH in the near future.
Conclusion: Based on my analysis and calculations, Pyth can remain stable and has the potential to increase its market share from one-tenth to one-fifth of Chainlink’s. There’s a realistic chance for the price to return to a resistance zone around $0.51, with a market cap of $3.6B. While PYTH may not be a token to expect explosive growth from, it offers stability and long-term potential.
#PythRoadmap #Pyth #ChuyenGiaDuDinh #Altcoin #Oracle
PYTH surged over 100% in just one day to $0.25 following the news that ChainLink and Pyth Network were selected by the U.S. Department of Commerce to collaborate in publishing official macroeconomic data (such as GDP and the Personal Consumption Expenditures index - PCE) on the blockchain.
Can PYTH return to its previous all-time high (ATH) in the future?
Pyth Network is a decentralized oracle specializing in providing real-time financial data for blockchain applications, particularly in DeFi (decentralized finance), GameFi, and smart contracts, with its main competitor being Chainlink.
Market Cap Comparison: PYTH: $1.29B vs. LINK: $16B
ATH: PYTH: $1.16, current price: $0.18
To return to its previous peak, PYTH’s market cap would need to reach approximately $8.3B, roughly half of Chainlink’s. However, Pyth currently holds only a 6.35% market share in the oracle sector, about one-tenth of Chainlink’s 61.85%. Notably, Pyth focuses on a niche segment rather than offering the diverse services of Chainlink, making it challenging for PYTH to achieve a new ATH in the near future.
Conclusion: Based on my analysis and calculations, Pyth can remain stable and has the potential to increase its market share from one-tenth to one-fifth of Chainlink’s. There’s a realistic chance for the price to return to a resistance zone around $0.51, with a market cap of $3.6B. While PYTH may not be a token to expect explosive growth from, it offers stability and long-term potential.
#PythRoadmap #Pyth #ChuyenGiaDuDinh #Altcoin #Oracle
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
PYTH
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