The Pyth Network staking value has jumped above $1.3 billion. The oracle platform, which counts more than 100 data providers, offers over 450 price feeds and is integrated across 300+ decentralized applications, has seen remarkable growth in this sector since early January.
PYTH staked value surpasses $1.3 billion
Data shows the number of PYTH stakers has hit 178,000. Wallets taking part in Pyth governance have spiked from just over 11,000 in December 2023.
Meanwhile, total staked tokes have jumped to over 1.27 billion, worth more than $1.3 billion. According to data from Dune, interest in PYTH staking has taken the total staked value to above $1.34 billion.
Interest increased significantly in recent weeks as the total number of PYTH token holders exceeded 389,580.
The surge in PYTH price has helped, with the token’s airdrop launch a key driver of sentiment. Pyth Network price reached its new all-time high on March 16, 2024.
Per details on CoinGecko, PYTH price reached a high of $1.20, the value representing a more than 400% spike from its January 2024 lows of $0.22. Currently, PYTH/USD is up nearly 10% to trade around $1.06.
With a market cap of $1.58 billion, the total staked PYTH value is 85.4% of market cap.
Pyth Network growth
These changes come as Pyth celebrates remarkable growth over the past year. Pyth unveiled its first airdrop in November, with over 90,000 eligible wallets eligible. Benefitting users were across 27 blockchains.
According to on-chain data, over 52,000 wallets have so far claimed 66% of the airdropped tokens. That’s more than 165 million of the over 250 million airdrop allocation. Interest in further airdrop opportunities is driving the surge in staked tokens.
Pyth Price Feeds are currently accessible by users across more than 50 blockchains. Real-time data feeds users can tap into include cryptocurrencies, equities, ETFs, commodities and FX pairs.
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