Pyth Network Price Prediction 2024, 2025, 2030

With many comparing it to the launch of TIA, which saw gains of over 260% when it launched earlier in 2023, Pyth Network’s token, PYTH, seems to have a bright future—and a lot to live up to.

In this Pyth Network price prediction, we’ll look at what affects the future price of PYTH and make informed predictions for it. We’ll also dive into what Pyth Network is and what the PYTH token can be used for.

Pyth Network Price History

The PYTH token first appeared on exchanges shortly after 15% of the supply was airdropped to early community members and users who had interacted with dApps that had integrated Pyth Network’s oracles. This airdropped happened at 2 pm UTC on November 20th, 2023. And trading started on multiple exchanges at 3 pm the same day.

According to Pyth Network’s PYTH price feed, the token was priced at $0.338429 1 hour after launch. On launch day, the price of Pyth hit its ATH of $0.6544 and its 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 crypto price, and it is currently discovering its range. As more eligible airdrop recipients discover their token balances, we’ll also learn more about the community sentiment surrounding PYTH.

Pyth Network Price Prediction 2024

As the PYTH token is still in price discovery mode, we cannot use technical analysis to inform our price predictions. We can, however, look to the future to see what will happen in 2024 that could positively or negatively impact the price and use that information to make an informed Pyth Network coin forecast.

Bitcoin Halving: The next Bitcoin Halving is due to occur in early 2024, and history tells us that its effects on prices are latent, waiting until 12–18 months after the Halving event. However, Bitcoin and cryptocurrencies are the most popular they’ve ever been, and adoption is at its highest. This could mean that more may happen to the crypto markets during the BTC Halving event.

PYTH Listing: PYTH is a new coin, so it hopes to become one of the upcoming coin listings on Binance, Kraken, or Coinbase. Being listed on these exchanges, and the announcements of said listings, are often accompanied by a price pump.

Hacks: While the Pyth Network could be the victim of a hack, there also needs to be caution around hacks that could happen to, and even take down, the cross-chain protocols that the Pyth Network relies on to send its data points to other blockchain networks.

Network Popularity: Pyth is a new network offering important utility at a time when the crypto ecosystem is growing. If, or as Pyth Network’s popularity continues to grow, we can expect the PYTH token price to grow along with it.

After looking at the above factors, we can conclude that should everything run smoothly the Pyth Network will continue to grow and it is more than likely that it will be listed on one or more of the biggest exchanges too. As a result, our PYTH price prediction for 2024 is a high of $1.34, a low of $0.40, and a median price of $0.85.

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

Looking further afield for such a young coin can be quite difficult. But, just as we did for 2024, we can look at factors we know can or will influence the price of tokens in general through this period and those that might specifically affect PYTH and make a Pyth network price prediction for the coming years.

Pyth Network Price Prediction for 2025

The price impact of the Bitcoin Halving event in 2024 is going to be felt in 2025, and this will dominate price actions should it have the expected effect of inducing new ATHs for Bitcoin and the majority altcoins. Pyth can also expect to continue to gain adoption into 2025, which will also positively affect its price.

The only thing that could put a damper on this for PYTH—besides bad news for Bitcoin ETFs and their approval—is a hack on any of the services used by PYTH to transmit its data cross-chain.

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

Pyth Network Price Prediction for 2030

There are many factors that make crypto price predictions tricky. However, we can expect the crypto industry to be operating within a solid regulatory framework by this point, and adoption and usage of blockchain networks to have grown substantially. This will increase the demand for first-party oracle services, like those offered by Pyth Network.

In 2030, however, we will be coming down offer the highs experienced in 2029 as a result of the 2028 Bitcoin Halving—something that is likely to pull the price down lower.
Our Pyth Network price prediction for 2030 is a high of $2.94, a low of $1.90, and a median price of $2.52.

Potential Highs & Lows of Pyth Network Coin Price

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

What do Other Analysts Predict for Pyth Network Coin?

Pyth Network Price predictions vary quite a bit at this early stage. Here’s what other analysts think might happen to the Pyth Network’s token price over the coming years.

What is Pyth Network Coin and What is it Used For?

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

First-Party Oracles vs Third-Party Oracles

A first-party oracle is when the source of the data, i.e., the API provider, publishes the data directly onto the blockchain.

A third-party oracle is where another party takes the data from the data source, via their API, and publishes it on the blockchain. This third-party is, essentially, a middleman adding another level of complexity to the system and reducing the level of trust.

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

The Pyth Network is an app-chain (an application-specific chain that only permits a restricted number of activities related to the app running on it) called Pythnet. Pythnet 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 fees to access and use the price data to inform their dApps or smart contracts.

Unlike some of its competitors, who use a “push” design, Pyth Network employs a “pull” design for their oracles. In a push design the publisher pushes the price out at regular intervals, regardless of whether or not it is needed, whereas, in a pull design, a consumer pulls the price when they need it, making oracles much more cost effective.

Pythnet transactions are free for publishers, allowing them to keep prices updated as frequently as possible without incurring costs such as gas fees. Fees for pulling oracle data are charged at a fixed price per update and adjusted through governance votes. To begin, fees are charged as the lowest denomination possible on the target chain, e.g., 1 wei on Ethereum or 0.000000000000000001 ETH.

Pythnet’s Data Participants and Cross-Chain Transmission

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

• Cryptocurrencies
• Equities
• ETFs
• FX
• Commodities

This data comes from 90+ first-party institutional sources and includes some of the world’s largest exchanges, market makers, and financial service providers publishing their proprietary price data on-chain. These include:

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

There are multiple data providers for each price feed on Pyth Network, and the data provided by these participants is aggregated on-chain by Pythnet’s oracle program, which then produces a resulting price with a confidence interval, e.g., ETH: $2000 ±$1. This aggregation of multiple feeds for the same price helps to produce more trustworthy data feeds that cannot be influenced by a small group of malicious publishers.

Once aggregated, prices are broadcast cross-chain using decentralized cross-chain messaging protocols, such as the Wormhole network. This allows Pyth Network to support a wide number of chains, and the dApps on these chains to read the price feed on their native chain, without having to design a complex cross-chain network themselves. Ultimately, this makes integration much easier.

The number of chains using Pyth Network’s price feeds currently numbers more than 40. Over 230 dApps have already integrated Pyth Network’s price feeds, securing over $1.5bn in on-chain value.

PYTH Token Airdrop and Utility

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

Eligible wallets have 90 days to claim their tokens, and users can check their PYTH airdrop eligibility here.

The rest, 85%, of the token supply is locked. It will be vested over the next 6–42 months and distributed: as publisher rewards, as an ecosystem growth fund, for protocol development, and to private participants. Pyth’s tokenomics can be found here.

PYTH tokens have a specific and single use case in the Pyth Network ecosystem and that is to be used for on-chain governance votes on community governance proposals. Tokens must be locked in the Pyth staking program to participate in governance votes.

Pyth Network Coin Overview

What Influences the Price of Pyth Network?

A myriad of factors can affect the price of any coin, and each coin has factors that are unique to it, and PYTH is no different.

• Bitcoin Halving: The Bitcoin Halving event in 2024 is expected to have the same price impact in 2025 that it has had previously. So far, this has always involved Bitcoin and other altcoins hitting new ATHs.
• Protocol Uptake: While Pyth Network’s price feed data is currently being used by over 230 protocols, there is still a lot of room for it to grow, and the demand for the oracle services offered by Pyth Network will only continue to grow. As Pyth Network offers more price feeds and more platforms want to integrate them, this will have a positive impact on the price of PYTH. Likewise, if protocols favor other oracles over Pyth Network, then the PYTH price could slide downwards.
• Hacks: Pyth Network relies on third-party cross-chain services to transmit its data. If one of these platforms becomes compromised, the operations of Pyth Network will become compromised too and, depending on the extent of the hack, could have a devastating effect on the price of PYTH.
• Network Upgrades: As blockchain networks approach significant upgrades, speculation usually increases around their coins, resulting in a price increase that can either be sustained or drop off once the upgrades have been implemented.
• Competitors Actions: The oracles space is competitive, with over 40 tokenized projects in the oracle ecosystem already, including the likes of Chainlink. As these protocols grow and upgrade, Pyth Network must keep pace; otherwise, investors might jump ship.

Is Pyth Network a Buy?

Pyth Network is the newest in a large group of oracle tokens. Oracles are a necessary element in taking blockchain technology mainstream, as reliable sources are needed to bring data on-chain for use in smart contracts.

Pyth Network’s important selling point is that it solely offers first-party oracles to dApps and smart contracts on-chain. This is offered by a minority of other oracle providers in the space, and this direct line to the source is an attractive benefit for those looking for data points.

Overall, the need for decentralized, first-party oracle providers like Pyth Network has been an important talking point in helping to enhance the legitimacy of DeFi, the use of blockchain assets, and helping to bring more people on-chain. So, the emergence of Pyth Network is something greatly welcomed in the blockchain space.

Best Exchange to Buy Cryptocurrencies

Although you can’t buy PYTH on Binance yet, this is the best exchange to buy any other cryptocurrency. It serves more than 160 million users worldwide and its daily spot and derivatives trading volume dwarfs competitors like Coinbase and ByBit.

That’s not surprising given you can trade over 350 cryptocurrencies on the spot market with some of the lowest fees of 0.1%, which can be lowered if you pay them with BNB coin.

What’s more, advanced users can trade crypto options and futures. Those who don’t want to actively trade have access to trading bots and copy trading.

Strapped for liquidity? Provide your coins as a collateral and borrow against them. Your idle coins can also find a home with the Binance Earn program where you can lock them up for a certain period of time to earn annual percentage rate, such as 8.47% APR on USDT with low-risk, flexible-period lock up.

Overall, Binance offers multiple useful features to help you grow your crypto portfolio.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Conclusion

Pyth Network is operating in one of the many niches of blockchain technology. But, perhaps in contrast to dApps and blockchain gaming, the services offered by Pyth Network are necessary for the growth of the whole blockchain ecosystem.

However, that doesn’t necessarily mean that Pyth Network is one of the best cryptocurrencies to buy right now.

References

• https://www.reuters.com/markets/how-close-are-crypto-markets-first-spot-bitcoin-ether-etfs-2023-11-20/
• https://djed.xyz/
• https://makerdao.com/en/
• https://pyth.network/publishers
• https://wormhole.com/
• https://www.coindesk.com/business/2023/11/20/pyth-token-debuts-near-500m-valuation-as-90000-wallets-receive-airdrop/
• https://airdrop.pyth.network/
• https://pyth.network/blog/understanding-the-pyth-tokenomics
• https://coinmarketcap.com/view/oracles

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