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News Explorer — Pyth Token Airdrop Pumped a $765 Million Momentary Market Cap

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Nov 20, 11:16 pm

Decrypt

Pyth Token Airdrop Pumped a $765 Million Momentary Market Cap

Pyth, the DeFi oracles network, had a strong debut for its token airdrop, reaching an initial market capitalization of $765 million for its PYTH token. However, the figure settled down to around $457 million. The token's price started at $0.53 but quickly fell to $0.28 before stabilizing just above $0.30. Over $87 million in trading volume has been recorded since the launch.

Pyth, the DeFi oracles network, had a strong debut for its token airdrop, reaching an initial market capitalization of $765 million for its PYTH token. However, the figure settled down to around $457 million. The token's price started at $0.53 but quickly fell to $0.28 before stabilizing just above $0.30. Over $87 million in trading volume has been recorded since the launch.

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