Pyth Network Faces Pressure as Major Token Unlock Looms
Pyth Network’s token price is under strain as a significant token unlock approaches. the PYTH token hit $0.150, its lowest as May 9, marking a 72% drop from its November peak.
Pyth Network is an oracle service that links market data to various blockchain applications.It’s currently valued at $0.150, reflecting market concerns. The main event is a massive token release set for May 20. This unlock will release tokens worth $333 million, or 58% of the current float. This event could flood the market with new coins, perhaps lowering its value. The unlock includes tokens for private sales, publisher rewards, and development funds.
Token unlocks often cause price dips due to increased supply. With
