The capitalization of the PYTH token exceeded $420 million after the retrodrop

21.11.2023 09:45

The total market value of the Pyth Network oracle token exceeded the $420 million mark after the PYTH retrospective cross-chain airdrop. The project distributed coins among 90,000 wallets. 

At the time of writing, the token is trading around $0.35 after peaking at $0.51, according to CoinMarketCap. 

PYTH recipients have 90 days to "brand" the coins intended for use in on-chain voting. 

The total volume of the issue is 10 billion PYTH, of which 1.5 billion PYTH are already in circulation.

The Pyth Network of oracles receives price data from exchanges and institutional players, then sending them to smart contracts.

The largest oracle networks. Data: DeFi Llama.

Airdrop is designed to stimulate on-chain management and the transition to a "permissionless, decentralized and self-sufficient main network". 

Recall that in September, the Optimism team distributed 19.4 million OP tokens among 31,870 addresses.

Back to the list