The PYTH Ecosystem and the future of PYTH

[MrSpasybo]

Yes I also heard this news on the telegram channel and when I checked in the market it turned out that PYTH had plunged freely down but I still opened a short position but the market said otherwise after I opened a short position pyth immediately reversed direction and I had to close the short position in a state of loss.

Condolences on your stop-loss, but I hope you will soon regain your profits from future investment decisions. Stop-loss protects your assets and opportunities in this market ^^

PYTH price has been on a continuous downtrend since mid-March, possibly due to the news of the token unlock event in May being reflected in the price chart. Surprisingly, right after billions of PYTH tokens were unlocked, PYTH price surged from $0.36 to $0.5, confusing many investors. It is possible that PYTH holders did not have a plan to sell immediately after receiving unlocked tokens, they continued to hold and find ways to pump PYTH price to sell at a higher price in the future. I also have high expectations for the future of PYTH token and Pyth Network as it is the only oracle that can compete with ChainLink in this bullrun. Other oracles like Band or DIA seem to have been forgotten in the oracle sector.

[Metha Wulandarin]

Yes I also heard this news on the telegram channel and when I checked in the market it turned out that PYTH had plunged freely down but I still opened a short position but the market said otherwise after I opened a short position pyth immediately reversed direction and I had to close the short position in a state of loss.

Condolences on your stop-loss, but I hope you will soon regain your profits from future investment decisions. Stop-loss protects your assets and opportunities in this market ^^

PYTH price has been on a continuous downtrend since mid-March, possibly due to the news of the token unlock event in May being reflected in the price chart. Surprisingly, right after billions of PYTH tokens were unlocked, PYTH price surged from $0.36 to $0.5, confusing many investors. It is possible that PYTH holders did not have a plan to sell immediately after receiving unlocked tokens, they continued to hold and find ways to pump PYTH price to sell at a higher price in the future. I also have high expectations for the future of PYTH token and Pyth Network as it is the only oracle that can compete with ChainLink in this bullrun. Other oracles like Band or DIA seem to have been forgotten in the oracle sector.

There are many possibilities why the PYTH coin spiked up after the token opening.
It could be that there are those who are not interested in selling it or after the token opening investors immediately stake on the PYTH platform or it could be that investors want to sell it later when the Altcoin season occurs.

[MrSpasybo]

There are many possibilities why the PYTH coin spiked up after the token opening.
It could be that there are those who are not interested in selling it or after the token opening investors immediately stake on the PYTH platform or it could be that investors want to sell it later when the Altcoin season occurs.

There are many possibilities and we cannot know for sure. Sometimes, weak hands sold PYTH tokens before the token unlock event, while early investors decided to hold and pump PYTH price to get more profits in the future. The crypto market is really interesting and beyond our simple predictions!

I hope that PYTH price will continue to grow in the future to promote the overall development of the Solana ecosystem. I don't want Solana to be known only for memecoins, I also want the oracle market to be more vibrant thanks to the competition between Chainlink and Pyth!

[Metha Wulandarin]

There are many possibilities why the PYTH coin spiked up after the token opening.
It could be that there are those who are not interested in selling it or after the token opening investors immediately stake on the PYTH platform or it could be that investors want to sell it later when the Altcoin season occurs.

There are many possibilities and we cannot know for sure. Sometimes, weak hands sold PYTH tokens before the token unlock event, while early investors decided to hold and pump PYTH price to get more profits in the future. The crypto market is really interesting and beyond our simple predictions!

I hope that PYTH price will continue to grow in the future to promote the overall development of the Solana ecosystem. I don't want Solana to be known only for memecoins, I also want the oracle market to be more vibrant thanks to the competition between Chainlink and Pyth!

Even though I don't own pyth anymore, I'm still holding on to pyth unlike other projects, of course, you know many projects that were hype at the beginning of TGE and disappeared after listing in the market.
If I look at the volume and X accounts they remain active and continue to do fan updates in different communities on telegram I see that there are still many who are staking and holding PYTH.

[MrSpasybo]

Even though I don't own pyth anymore, I'm still holding on to pyth unlike other projects, of course, you know many projects that were hype at the beginning of TGE and disappeared after listing in the market.
If I look at the volume and X accounts they remain active and continue to do fan updates in different communities on telegram I see that there are still many who are staking and holding PYTH.

Yeah, looking at Pyth's profile, we can rest assured that Pyth is not a scam project or will disappear soon in the future. Pyth is invested by large funds such as Multicoin Capital, Delphi Digital and Wintermute, meaning that this project has been carefully reviewed by the teams of these funds, and we have the right to believe that they are really serious when investing in Pyth.

In terms of solutions, Pyth can compete with Chainlink in the oracle sector by providing real-time prices for smart contracts on multiple blockchains. With the explosion of DeFi and RWA in the future, we will see the development of Pyth like what Chainlink achieved in the bullrun 2021.

• Cryptorank: Pyth Network