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Pyth Network is a special system that gathers real-time information about prices from different financial markets like cryptocurrencies, stocks, and commodities. It works on over 40 different blockchains, which are like digital platforms where transactions happen.
Big companies like Binance, OKX, and others share their price data with Pyth. This data is used by computer programs called smart contracts to make decisions automatically without human intervention. The smart contracts make sure the prices are accurate and can't be cheated.
With Pyth, anyone can quickly get the latest price information they need for their blockchain projects. Since it started less than a year ago, Pyth has become really popular and has been trusted with over $1 billion worth of assets. It's been used by over 250 different applications for transactions totaling $100 billion. And the best part is, anyone can use Pyth without needing permission.
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Price:
Today, 14th February 2024, PYTH is worth about $0.6781 in US dollars. In the past day, the value of PYTH has gone up by about 14.47%. The total value of all the PYTH coins in existence is around $1,005,402,631. There are currently 1,501,474,219 PYTH coins being used, but we don't know how many PYTH coins will ever be created because the maximum supply isn't available.
In the last 24 hours, people have traded PYTH coins worth about $218,000,444 altogether. Right now, Pyth Network is ranked #69 among all digital currencies.
The highest price ever paid for Pyth Network (PYTH) was $0.6738 per token, and that happened on February 14, 2024, about 33 minutes ago. Right now, the price is a bit lower than that, about 0.49% less.
On the other hand, the lowest price ever paid for PYTH was $0.2288, and that was recorded on January 8, 2024, around a month ago. Currently, the price is much higher than that, about 193.04% higher.
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Market-cap:
The price of one PYTH token is, say, $0.67, and there are 1.5 billion PYTH tokens available for trading, we multiply $0.67 by 1.5 billion to get the market cap.
In this case, the market cap of Pyth Network would be $1,003,165,864. This gives us an idea of how valuable Pyth Network is in the cryptocurrency market at this moment.
Future Predictions:
Our experts have made predictions about the price of PYTH tokens for the year 2024. They anticipate that the highest price PYTH tokens could reach in 2024 is $1.34. This is the peak value they expect PYTH tokens to reach during the year.
On the other hand, they also predict that there could be times when the price of PYTH tokens might drop, and the lowest price they foresee for 2024 is $0.40. This is the lowest point they expect the price to reach during the year.
Now, the median price they've predicted for PYTH tokens in 2024 is $0.85. This means that they expect PYTH tokens to trade around this price on average throughout the year.
So, in simpler terms, the experts believe that PYTH tokens could range from a high of $1.34 to a low of $0.40 in 2024, with a median or typical price of $0.85.
Disclaimer: The information provided in this article is for educational and informational purposes only. It is not intended to be, and should not be construed as, financial advice. The content is based on analysis and research and we do not guarantee the timeliness of the information presented to you. Readers should conduct their own research before making any investment decisions. The author and the article shall not be held responsible for any financial losses or decisions made based on the content of this article.
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