Pyth Airdrop Puts $77 Million in the Wallets of Crypto Users - Decrypt


20 Nov 2023 11:16 PM

Upstart crypto exchange Backpack also airdropped the Solana-based PYTH token to tens of thousands of new users as a reward....

  • Pyth, a DeFi oracles network, had a successful token airdrop, reaching a market capitalization of $765 million initially.
  • The token's price fluctuated, starting at $0.53 and falling to $0.28 before stabilizing at just above $0.30.
  • The initial circulating supply of 1.5 billion tokens will increase to a total supply of 10 billion tokens over the next three years.
  • Approximately 250 million tokens were distributed through the airdrop, worth over $77 million.
  • Around 35,000 out of 90,000 eligible wallets have claimed their tokens so far.
  • Backpack, a crypto exchange, also announced an airdrop of PYTH tokens to its new users who staked SOL.
  • Pyth is a prominent oracle network, currently ranking fourth in total value secured.

The article provides a factual account of Pyth's token airdrop and its market performance. No sentiment is expressed.

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You May Ask

What was the initial market capitalization of Pyth's token after the airdrop?How did the token's price fluctuate after its launch?What is the total supply of Pyth tokens and how will it increase over time?How many tokens were distributed through the airdrop and what is their approximate value?How many wallets have claimed their tokens so far?

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