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- 1 Pyth Network constituted an airdrop of PYTH tokens on November 20, 2023.
- 2 PYTH token currently trades at $0.43 after witnessing a surge of nearly 6% in the last 24 hours.
The new entrant in the decentralized finance (DeFi) space, PYTH, is holding a place among the frontrunners in terms of most trading assets. The native token of Solana blockchain-based DeFi oracle Pyth Network, the token saw an airdrop about a week ago. PYTH token still sustains a notable increase in the last week and continues to grow. Along with the new ones, the major crypto assets are making slow movements.
According to CoinGecko data, currently PYTH token trades at $0.43 after witnessing a surge of nearly 6% in the last 24 hours. The current price is more than 55% up from the initial trading price of $0.28.
In the weekly time frame, the token saw an increase of over 26%. The 24-hour trading volume hit over $31.4 Million with the overall market capitalization at $667.46 Million.
Pyth Network constituted an airdrop of PYTH tokens on November 20, 2023. During the event, 250 Million PYTH tokens were distributed among participants who were Solana (SOL) users. The airdrop included users worldwide, except for the United States.
The airdrop was valued at $77 Million when released, which rose to about $105 Million at the time of writing.
In the dynamic landscape of the cryptocurrency market, Celestia’s TIA, another token airdropped recently, has emerged as a standout performer, experiencing a remarkable surge of nearly 13% today. The token is currently traded at $6.18, solidifying its position as the best-performing cryptocurrency in the current market climate.
Solana (SOL), holding the seventh position in digital assets by market capitalization, is also making notable gains, with a nearly 4% increase, and each coin is exchanging hands at $56. The asset’s value skyrocketed throughout November, witnessing a remarkable growth of over 70% as significant investors expressed keen interest in the digital asset.
Bitcoin, the leading digital asset by market cap, has seen a commendable rise of nearly 3% in the past day, with the current trading price just above $38,000. Institutional investors continue to channel interest into the crypto space, primarily focusing on BTC.
The rise in BTC price came in the wake of optimism about the spot Bitcoin exchange’s potential approval from the U.S. Securities and Exchange Commission. If the proposal gets approval from the regulator, as the wider community expects, then traditional investors can have the opportunity to have exposure to BTC without making a direct investment in holding it.
Simultaneously, Ethereum (ETH) has experienced a surge in its price, attributed to BlackRock’s significant progress in the approval process of a spot Ethereum ETF. This optimistic outlook is rooted in the anticipation of an imminent bull run and the potential approval of an Ethereum ETF, marking a significant step forward for Ethereum in the realm of institutional investment.
As the cryptocurrency market continues to evolve, these developments underscore the diverse avenues of growth and investment opportunities, with various tokens and assets demonstrating resilience and attracting interest from both retail and institutional investors alike.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
