Pyth Airdrop Puts $77 Million in the Wallets of Crypto Users - Decrypt
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.
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The article provides a factual account of Pyth's token airdrop and its market performance. No sentiment is expressed.
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