Pyth Network Price Prediction 2024-2030

Beginning November 20, 2023 at 2:00 PM UTC, 15% of the Pyth Network’s PYTH token supply has been distributed to community members and dApp users. An hour later, PYTH started trading on numerous exchanges, with the coin finding a price of $0.338429 1 hour after its launch. PYTH set a new all-time high (ATH) and all-time low on the first day of trading – $0.6544 and $0.2774 respectively.

Many are comparing it to the launch of TIA, which is up more than 260% when it launches in early 2023 , Pyth Network’s token PYTH seems to have a bright future – there’s still a lot to be achieved.

In this Pyth Network Price Prediction, we will look at the factors affecting the future price of PYTH and make an informed prediction about it. We will also dive into what the PYTH network is and what the PYTH token is used for.

Pyth Network Coin Price Prediction 2024-2030

• Starting at 2 pm UTC on November 20, 2023, 15% of the Pyth Network’s PYTH token supply has been Distribute to community members and dApp users.
• An hour later, PYTH started trading on numerous exchanges, with the token finding a price of $0.338429 1 hour after its launch.
• PYTH set a new all-time high (ATH) and new all-time low on the first day of trading – $0.6544 and $0.2774 respectively.
• It then found a trading range between $0.40 and $0.28 and has been trading between these levels ever since.
• This was early in the history of Pyth Network and users had 90 days to claim their tokens. Therefore, you can expect a lot of movement in the market.

##yearLow priceMeal average budgetHigh price

2024	$0.40	$0.85	$1.34
2025	$1.04	$2.89	$4.24
2030	$1.90	$2.52	$2.94

Pyth Network Historical Price

Shortly after the PYTH token first appeared on the exchange, 15% of the supply was airdropped to early community members and integrated with Pyth Network oracle's dApp interacts with users. This airdrop occurs on November 20, 2023 at 2 PM UTC. At 3 p.m. on the same day, multiple exchanges started trading.

According to Pyth Network’s PYTH price feed, the token was trading at $0.338429 1 hour after launch. On launch day, Pyth’s price hit an ATH of $0.6544 and an all-time low of $0.2774. Over the next 24 hours, it found a trading range between $0.40 and $0.28.

These are the earliest days for the Pyth Network cryptocurrency price, which is currently discovering its range. We will also learn more about the community sentiment surrounding PYTH as more eligible airdrop recipients discover their token balances.

Pyth Network Historical Price Summary

• PYTH debuted on multiple exchanges on November 20, 2023 at 3pm UTC, according to Pyth Network On the PYTH price feed, just 1 hour later, it was trading at $0.338429.
• Pyth Network hit ATH and all-time lows of $0.6544 and $0.2774 respectively in the first 24 hours of trading.
• Over the next 24 hours, PYTH begins to find a trading range between $0.40 and $0.28

Pyth Network Price Prediction 2024

Since the PYTH token is still in price discovery mode, we are unable to use technical analysis to inform our price predictions. However, we can look ahead to see what will happen in 2024 that could have a positive or negative impact on price, and use this information to make informed Pyth Network token predictions.

Bitcoin Halving: The next Bitcoin halving will occur in early 2024, and history tells us that its impact on price is potential until 12-18 months after the halving event. However, Bitcoin and cryptocurrencies are the most popular of all time and have the highest adoption rate. This could mean more may happen in the crypto market during the BTC halving event.

PYTH LISTING: PYTH is a new coin and as such it is looking to be an upcoming token listed on Binance, Crack or Coinbase. Listings on these exchanges, as well as announcements of said listings, are often accompanied by price increases .

Hackers: While the Pyth Network may be the victim of a hacker attack, caution needs to be exercised against the possibility of a hacker attack or even destroying the cross-chain protocol that the Pyth Network relies on to send its data points to other blockchain networks. .

Network Popularity: Python is a new network that provides important utilities at a time when the crypto ecosystem is growing. If, or as, the popularity of the Pyth Network continues to grow, we can expect the PYTH token price to grow as well.

After looking at the above factors, we can conclude that if all goes well, the Pyth network will continue to grow and it will most likely be listed on one or more of the largest exchanges as well. Therefore, our 2024 PYTH price forecast ranges from a high of $1.34, a low of $0.40, and a median price of $0.85.

Pyth Network Price Prediction Long Term Outlook – 2025-2030 Forecast

Looking further afield for such a young coin can be very difficult. However, just as we did in 2024, we can look at the factors that we know may or will affect the coin's price during this period, as well as those that may specifically affect PYTH, and make some assumptions about the price of the PYTH network in the coming years. Make predictions.

Pyth Network Price Prediction for 2025

The price impact of the 2024 Bitcoin halving event will be seen in 2025, if it has the potential to bring new developments to Bitcoin and most altcoins The expected effect of ATH, which will dominate price action. Python is also expected to continue to gain adoption in 2025, which will also have a positive impact on its price.

The only thing that could put a damper on PYTH—besides the Bad News Bitcoin ETF and its approval—is a hack of whatever service PYTH uses to transfer its data across chains.

That said, our Pyth Network price predictions for 2025 include a low of $1.04, a median of $2.89, and a high of $4.24.

Pyth Network Price Prediction for 2030

There are many factors that make cryptocurrency price predictions tricky. However, we can expect that by now the crypto industry will operate within a solid regulatory framework and the adoption and use of blockchain networks will grow significantly. This will increase demand for first-party oracle services, such as those provided by Pyth Network.

However, in 2030, due to the Bitcoin halving in 2028, we will fall to the highs experienced in 2029 - which may drag the price lower.
Our Pyth Network price forecast for 2030 is a high price of $2.94, a low price of $1.90, and a median price of $2.52.

Potential Highs and Lows for Pyth Network Coin Price

The table below shows an easy-to-read version of our Pyth Network price prediction.

年	Low Price	Meal Average Budget	High Price
2024	$0.40	$0.85	$1.34
2025	$1.04	$2.89	$4.24
2030	$1.90	$2.52	$2.94

What are other analysts predicting for Pyth Network Coin?

At this early stage, Pyth Network price predictions vary widely. Here’s what other analysts think might happen to Pyth Network’s token price in the coming years.

Crowd Wisdom website compiled price predictions and stated that in 2025, the PYTH price will be $1.14, and by 2030, the price will more than quadruple to $4.90.

Wisdom of the Crowd

##DigitalCoinPrice website predicts that the price of PYTH will remain relatively stable above $1 by 2025, at $1.17 and fluctuated between $1.38.

DigitalCoin Price

CoinDataFlow platform predicts that PYTH will reach a high of $2.82 in 2025, but will fall back to this in 2030 levels, with a high of $2.40.

Coin data flow

What is Pyth Network Coin and what is it used for?

Pyth Network, ticker: PYTH, is a first-party oracle network designed to provide real-time, off-chain financial data to smart contracts and dApps on multiple blockchains. The data provided focuses primarily on financial price points, and what makes Pyth Network stand out is that it sources market data from major institutional sources.

What is an oracle?

The oracle is an API that provides data for contracts on the blockchain. It is the place where the blockchain obtains all important off-chain data. For example, if this didn't happen, we wouldn't be able to keep decentralized, collateral-backed stablecoins, like Grandpa in Cardano or the Maker DAO, pegged to the price of the U.S. dollar.

First-party oracles and third-party oracles

First-party oracles refer to data sources (i.e. API providers) that publish data directly to the blockchain.

Third-party oracle refers to another party that obtains data from the data source through its API and publishes it to the blockchain. Essentially, this third party is a middleman, adding another level of complexity to the system and reducing the level of trust.

Removing this third party significantly reduces the attack vector for anyone looking to manipulate the data used on-chain by DeFi and other protocols. The benefits of using first-party oracles also include increased data transparency and efficiency compared to third-party oracles.

The Pyth network is an application chain called Pythnet (an application-specific chain that only allows a limited number of activities related to the application running on it). Python stores and updates the state of each price feed, and its consensus model and runtime are based on Solana's. It is a proof-of-authority blockchain where each publisher runs a validator node.

There are two participants in the Pyth Network protocol:

1. Publishers: They publish and update price feeds, and earn fees for doing so.
2. Consumers: Those who pay to access and use price data to inform their dApp or smart contract.

Unlike some competitors that use a “push” design, Pyth Network uses a “pull” design for their oracles. In a push design, publishers push prices regularly regardless of whether they are needed, while in a pull design, consumers pull out prices when needed, making the oracle more cost-effective.

Pythnet transactions are free for publishers, allowing them to update prices as often as possible without incurring costs such as gas fees. The fee for pulling oracle data is charged at a fixed price per update and is adjusted through governance votes. First, the fee is charged in the lowest possible denomination on the target chain, for example, 1 wei or 0.00000000000000000001 ETH on Ethereum.

Pythnet’s Data Participants and Cross-Chain Transfers

At the time of writing, Pyth Network hosts and provides over 380 real-time price points for major financial assets, including:

• Cryptocurrency
• Stocks
• ETF Series
• Foreign Exchange
• Commodity

This data comes from 90 First Party institutional resources include some of the world's largest exchanges, market makers, and financial services providers, which publish their proprietary price data on-chain. These include:

• Binance
• Gate.io
• Jane Street
• Chicago Trading Company
• European Exchange
• Bybit Company
• Gemini

Every price feed on the Pyth Network has multiple data providers, and the data provided by these participants is aggregated on-chain by Pythnet’s oracle program , and then generate the resulting price with a confidence interval, such as ETH: $2000 ± $1. Aggregating multiple feeds at the same price helps produce more trustworthy data feeds that are not compromised by a small group of malicious publishers.

Once aggregated, prices are broadcast across chains using a decentralized cross-chain messaging protocol, such as the Wormhole Network. This allows Pyth Network to support a large number of chains, and dApps on these chains can Read price feeds on its native chain without having to design a complex cross-chain network yourself. Ultimately, this makes integration easier.

Currently, the number of chains using the Pyth Network price feed exceeds 40. Over 230 dApps have integrated Pyth Network’s price feeds, securing over $1.5 billion in on-chain value.

PYTH Token Airdrop and Utility

On November 20, 2023, Pyth Network airdropped 1.5 billion PYTH tokens (1.5% of the total supply) to over 90,000 eligible wallets 15%) Interact with dApps using Pyth data on any supported blockchain, including Solana, Aptos, Osmosis, the EVM ecosystem, and more.

Eligible wallets have 90 days to claim their tokens, and users can view their PYTH short investment eligibility here.

The remaining 85% of the token supply is locked . It will be vested and distributed over the next 6-42 months: as publisher rewards, ecosystem growth funds, protocol development, and to private participants. Pyth’s token economics can be found here.

The PYTH token has a specific single use case within the Pyth network ecosystem for on-chain governance voting on community governance proposals. Tokens must be locked in the Pyth staking program to participate in governance votes.

Pyth Network Coin Overview

##24-hour trading volume$155.41M

Cryptocurrency	Pyth Network
Stock Code	PYTH’s
行	#2169
Price	0.3942 USD
Price change 24 hours	13.73%
Market value	$563.4M
Circulating supply	1.5B
Historical High	0.6544 USD
Historical Low	0.2774 USD

What affects the price of Pyth Network Coin?

Countless factors can affect the price of any coin, each coin has its own unique factors and PYTH is no exception.

• Bitcoin Halving: The 2024 Bitcoin halving event is expected to have the same price impact in 2025 as the previous one. So far this has involved Bitcoin and other altcoins hitting new ATH.
• Protocol Uptake: While Pyth Network’s price feed data is currently used by over 230 protocols, there is still plenty of room for growth, and demand for the oracle services provided by Pyth Network will only continue to grow. As the Pyth Network offers more price feeds, and more and more platforms want to integrate them, this will have a positive impact on the price of PYTH. Likewise, if the protocol favors other oracles over the Python network, the PYTH price may decline.
• Hacker: Pyth Network relies on third-party cross-chain services to transmit its data. If one of these platforms is compromised, the operations of the Pyth Network will also be compromised, and depending on the extent of the hack, could have a devastating impact on the price of PYTH.
• Network Upgrades: As a blockchain network approaches a major upgrade, speculation surrounding its tokens typically increases, leading to a price increase that either continues or declines once the upgrade is implemented.
• Competitor Action: Competition in the oracle space is fierce, with more than 40 tokenized projects in the Oracle ecosystem already, including Chainring. As these protocols evolve and upgrade, Pyth Network must keep up pace; otherwise, investors may jump ship.

Is Pyth Network worth buying?

Pyth Network is the latest token in a long line of oracle tokens. Oracles are necessary for the mainstreaming of blockchain technology, as a reliable source is needed to bring data on-chain for use in smart contracts.

An important selling point of Pyth Network is that it only provides first-party oracles to on-chain dApps and smart contracts. This is provided by a handful of other oracle providers in the space, and for those looking for data points, this direct line to the source is an attractive benefit.

Overall, the need for decentralized first-party oracle providers like Pyth Network has been to help enhance the legitimacy of DeFi, use blockchain assets, and help bring more people to Important topics on the chain. Therefore, the emergence of Pyth Network is very popular in the blockchain field.

Conclusion

Pyth Network operates in one of the many niches of blockchain technology. However, perhaps as with dApps and blockchain games, the services provided by Pyth Network are necessary for the development of the entire blockchain ecosystem.

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