The data has already told us the answer. Within 24 hours, the spot transaction volume of $PYTH increased by 2.7 times, and the derivative transaction volume increased by 2.5 times, but the price fell by 15%. Large investors are more inclined to short sell.
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LIVE币圈有道
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Has the rising star $pyth fallen?
Pyth, the rising star of the oracle sector, has attracted much attention when it was launched, and the legend of the surge in the old predecessor link is pinned on pyth.
But at present, the decline of pyth has lost its high-fold confidence basis. Pyth has retreated nearly 70% from its high point, and its market value has dropped from 1.74 billion US dollars to the current 540 million US dollars. In 12 hours, it will unlock 1.4 times the current circulation of coins. It is worth 935 million US dollars.
According to the logic of the bull market, everyone hopes to sell it when the market gets better, but for a project that has fallen and made everyone lose confidence, the selling pressure will be quite large.
If it falls below 70% after unlocking. It is estimated that it will continue to decline to around 0.24. Brothers, are you still optimistic about pyth?
#pyth
Pyth, the rising star of the oracle sector, has attracted much attention when it was launched, and the legend of the surge in the old predecessor link is pinned on pyth.
But at present, the decline of pyth has lost its high-fold confidence basis. Pyth has retreated nearly 70% from its high point, and its market value has dropped from 1.74 billion US dollars to the current 540 million US dollars. In 12 hours, it will unlock 1.4 times the current circulation of coins. It is worth 935 million US dollars.
According to the logic of the bull market, everyone hopes to sell it when the market gets better, but for a project that has fallen and made everyone lose confidence, the selling pressure will be quite large.
If it falls below 70% after unlocking. It is estimated that it will continue to decline to around 0.24. Brothers, are you still optimistic about pyth?
#pyth
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