Pyth Network Price Prediction: PYTH Plunges 9% On $1B Token Unlock As Experts Say Consider This Green Crypto For 10X Gains

The
Pyth
Network
price
slumped
9%
in
the
past
24
hours
to
trade
for
$0.4385
as
of
05:23
a.m.
EST
on
trading
volume
that
skyrocketed
414%

The
dump
came
as
the
Pyth
Network
unleashed
a
large
token
unlock.

Pyth
Network
Price
Dumps
On
Voluminous
Token
Unlocks
Event

Data
according
to

tokenunlocks.app
shows
that
the
network
is
unlocking
$935.52
million
worth
of
tokens.
This
was
after
2.13
billion
PYTH
tokens
were
unleashed
as
part
of
a
cliff
unlocks
event.
The
tokens
comprise
141.67%
of
the
network’s
circulating
supply.

PYTH
token
unlocks

Token
unlocks
are
considered
bearish
catalysts
because
a
significant
number
of
tokens
are
unlocked
and
become
available
for
trading.
This
can
lead
to
increased
selling
pressure
and
downward
price
movement.

Token
unlocks
typically
result
in
a
sudden
increase
in
the
supply
of
the
cryptocurrency.
If
there
is
not
enough
demand
to
absorb
this
new
supply,
it
can
lead
to
a
decrease
in
price
as
sellers
outnumber
buyers.

Nevertheless,
one
trader
on
X,
@ModestusOkoye,
observes
that
the
impact
of
this
token
unlock
event
may
not
be
that
bad
despite
the
volume.
He
bases
the
expectation
on
the
fact
that
the
token
allocation
means
a
lot
won’t
be
cashed
in
immediately
for
early
gains.
That’s
because
PYTH
tokens
will
go
toward
publisher
awards,
ecosystem
growth,
protocol
development,
and
private
sales.

$PYTH
is
set
to
unlock
141.67%
of
its
supply
today

But
don’t
fret!

I
don’t
think
the
majority
of
the
token
will
be
dumped.

Here
is
why????????

pic.twitter.com/4Z7vwrMYaG

—
DeFi
Scholar
????????
(@ModestusOkoye)

May
20,
2024

Understanding
the
motivations
and
intentions
of
token
recipients
can
provide
insights
into
potential
price
movements
and
help
investors
make
informed
decisions.

Meanwhile,
data
according
to
blave.org
shows
that
PYTH
bulls
are
quickly
taking
advantage
of
the
correction
to
buy
the
dip.

聽說許多交易員正在做空

$PYTH
因為今天

@PythNetwork
代幣解鎖消息…

????代幣解鎖是否一定會跌？可由數據來輔助判斷！

1️⃣
籌碼集中度（HC）多頭集中度持續增加，主力持續積累籌碼；

2️⃣
巨鯨警報（WH）今天低點區大增，進一步確認主力入場做多；

3️⃣…

pic.twitter.com/ov8LdyZ7yF

—
Blave
(@__Blave__)

May
20,
2024

The
price
plunge
also
comes
after
the
Pyth
Network
released
its
LISUSD/USD
price
feed,
a
decentralized,
unbiased,
collateral-backed
de-stablecoin
soft-pegged
to
the
US
Dollar
by
the
Lista
DAO.

The
Pyth
Network
has
released
its
lisUSD/USD
price
feed.$lisUSD
is
a
decentralized,
unbiased,
collateral
backed
destablecoin
soft-pegged
to
the
US
Dollar
by

@lista_dao.

The
Pyth
LISUSD/USD
price
feed
is
now
available
on
more
than
55
blockchains.

pic.twitter.com/B9yRX9F6Zo

—
Pyth
Network
????
(@PythNetwork)

May
20,
2024

Pyth
Network
Price
Prediction

The
Pyth
Network
price
appears
primed
for
a
recovery
as
bulls
defend
the
$0.3763
support
level.
A
bounce
atop
this
buyer
congestion
level
would
send
the
PYTH
price
to
the
centerline
of
the
Bollinger
indicator
at
$0.4725.

If
PYTH
holders
can
keep
their
profit
appetite
in
check,
and
the
bulls
muster
more
buying
momentum,
gains
will
come.
A
strong
move
beyond
the
trendline
of
the
Fibonacci
indicator,
marked
by
the
descending
trendline,
could
see
the
Pyth
Network
price
extend
north.

In
a
highly
bullish
case,
the
Pyth
Network
price
could
test
the
upper
band
of
the
Bollinger
indicator
at
$0.5704.
A
strong
move
above
this
blockade
would
open
the
gains
for
more
upside
potential,
with
the
altcoin
likely
to
test
the
50%
Fibonacci
placeholder
of
$0.7629.

Notably,
the
volume
profile
shows
a
large
green
histogram
bar,
pointing
to
growing
bullish
sentiment
in
the
PYTH
market.

GeckoTerminal:
PYTH/USDT
1-day
chart

On
the
other
hand,
if
profit
booking
abounds,
the
Pyth
Network
price
could
drop.
A
slip
below
the
$0.3763
support
level
would
send
the
PYTH
token
to
a
cliff,
setting
the
stage
for
further
downside.

Meanwhile,
as
the
Pyth
Network
price
defends
against
a
new
all-time
low
below
$0.3763,
new
presale
eTukTukTUK
is
gaining
traction.

According
to
YouTuber
DCA
Crypto,
the
TUK
token
has
big
potential
in
2024
and
is
”changing
the
world.”
He
urges
investors
to
”get
in
early.”

Promising
Alternative
To
Pyth
Network’s
PYTH
Token

TUK
is
the
native
token
for
the

eTukTuk
ecosystem and
its
presale
has
already
raised
upwards
of
$3.3
million.

The
project
combines
AI
and
blockchain
technology
to
tackle
the
world’s
carbon
emissions
head-on.
With
a
focus
on
the
transportation
industry,
the
project
is
uniquely
placed
to
revamp
the
way
people
in
developing
countries
move
around.

1/
As
our
world
races
ahead,
personal
vehicles
surge,
bringing
environmental
challenges.
But
there’s
hope!
????❌

Today,
we
explore
cities
championing
eco-friendly
public
transport.

Buckle
up!
????

pic.twitter.com/joRizVjYRh

—
eTukTuk
(@eTukTukio)

February
7,
2024

An
innovative
electric
Tuk
Tuk
is
at
the
heart
of
eTukTuk’s
ambitious
plan.
These
mini
taxis
are
a
popular
mode
of
transport
in
highly
populated
countries
like
Sri
Lanka,
Bangladesh,
and
Pakistan.
The
introduction
of
such
electric
vehicles
reflects
a
commitment
to
improving
the
environment
and
community
welfare.

Electric
vehicles
do
more
than
just
reduce
emissions.

They
bring
cleaner
air,
quieter
streets,
economic
growth,
and
better
community
connectivity.

Join
the

#eTukTuk
movement
and
experience
the
social
benefits
of
EVs!
????????

pic.twitter.com/V2IP77tNiV

—
eTukTuk
(@eTukTukio)

May
18,
2024

eTukTuk’s
native
crypto,
TUK,
acts
as
a
utility
token
within
the
green
AI
ecosystem.
It
allows
users
to
transact
seamlessly
on-chain
and
within
the
eTukTuk
environment.

Investors
can
also
capitalize
on
eTukTuk’s
staking
mechanism,
with
the
initiative
offering
stakers
an
84%
annual
percentage
yields
(APY).
Users
will
get
4.75
$TUK
for
each
BSC
block
in
$TUK
token
incentives.

YouTuber
and
crypto
analysts
Jacob
Bury
says
TUK
has
the
potential
to
soar
10x
after
launch.

TUK
tokens
are
priced
at
$0.0315,
but
a
price
hike
is
coming
in
a
little
over
four
hours.

Visit
and
buy
eTukTuk
here.

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