↑ Strategic Alliances and DeFi Innovations Fuel Pyth Coin Momentum
The overall sentiment surrounding Pyth Network remains positive, as the project forges ahead with transformative partnerships and features....
A series of recent developments are fueling positive momentum for the Pyth Network. This network aims to establish new highs by 2025 and its price could potentially increase by 400%. Pyth Network is expanding its functionalities by introducing real-time oil data to over 80 blockchains. This move is poised to potentially unlock over $1 billion in tokens in collaboration with Avalanche. In addition, the network has formed partnerships with major entities such as Sony and DeFi entities, unleashing a new data feed on the Bitcoin layer 2 Merlin Chain.
Renowned exchange Binance has also launched BNSOL Super Stake with the Pyth Network, pushing the network's price surges. Furthermore, Pyth is flipping Chainlink in 30-day volume while simultaneously challenging its dominance. A successful express relay introduction by Pyth Network is intended to reduce MEV in DeFi, and collaborations with Entropy and Morpho are expected to boost DeFi lending overhaul.
Other promising news include Pyth Network token surge by 20% due to Binance listing, crypto-redemption rate feeds expansion, and key alliances with TON and Ondo Finance. Financial firm VanEck is also expanding Solana's influence with a Pyth ETN offering in the EU.
Finally, Pyth Network has added real-time market data on Hedera and offers real-time oil data feeds, which could potentially enable onchain oil derivatives in DeFi applications.
However, the network is also experiencing waning buying pressure due to its open interest hitting a two-week high.
PYTH Coin News Analytics from Wed, 23 Aug 2023 07:00:00 GMT to Thu, 19 Dec 2024 10:42:00 GMT - Rating 8 - Innovation 7 - Information 8 - Rumor 6