Python soared 40% in a single day! Pyth Network’s total pledged value approaches $1 billion

This site (120bTC.coM): Solana ecological oracle project Pyth Network, its native token $Pyth has rapidly grown to the market value of the oracle track since its airdrop in mid-November last year The second largest project, the token price has experienced a huge increase today due to the news that it will be listed on the Korean exchange.

$Pyth surged 40% in the past 24 hours

According to OKX spot price data, the price of $Pyth originally fluctuated around US$0.55, but it soared nearly 25% and broke through US$0.73 at 10 o'clock this morning. , and then rose again by 8% at about 1 p.m., once reaching $0.818, setting a record high.

It fell slightly before the deadline, and the price was temporarily reported at $0.7764, up 40% in the past 24 hours. The market value exceeded US$1.162 billion in one fell swoop, 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 open at 5 pm today. Upbit supports Korean won and Bitcoin spot trading pairs; Bithumb only supports Korean won trading pairs, and 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.

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