Pyth Network showcases impressive results in the DeFi sector, achieving $75 billion in monthly trading volume despite price volatility of $PYTH tokens.
Cross-Chain Expansion
Pyth Network achieved full penetration on Aptos (100%), 93% on Solana, and 94% on Sui. These figures highlight the importance of real-time pricing data in DeFi. The network is integrated with major platforms such as Magic Eden, Duel, and GMX. New integrations with blockchains like Atlas and IOTA have further expanded its reach.
Governance and Regulatory Engagement
The network completed its Pythian Council elections, bringing four new members into leadership roles. A proposal for a 100,000 PYTH stipend is currently under vote. Additionally, Douro Labs has reached out to the SEC for clarification on using oracles for regulated asset valuation, reflecting Pyth's commitment to compliance.
Technical Analysis and Outlook
Technical analysis indicates a descending triangle formation on the PYTH/USDT chart. The price remains at a support level around $0.12 while facing consistent resistance. A breakdown in support may lead to further declines, whereas a recovery could trigger bullish momentum. While market action weakens, Pyth’s fundamentals remain robust.
Despite current price volatility, Pyth Network is demonstrating growth through expansion in DeFi and strengthening governance and regulatory positions.
