The beginning of 2024 brought turbulence to crypto markets, leaving investors cautious despite recent gains. Notably, altcoins have outperformed Bitcoin, showcasing significant surges in value.

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In the final quarter of 2023, cryptocurrencies experienced remarkable surges, but 2024 has proven to be a volatile year. Despite Bitcoin’s recovery from bear market conditions that saw it drop to $15,000 in 2022, reaching $49,000 in early 2024, investor hesitation persists in the crypto market.

Altcoin Market Analysis and Top Performers
In the early days of 2024, altcoins witnessed sharp rises, particularly after the ETF decision, contrasting with Bitcoin’s performance. However, this bullish trend was short-lived, leading to a negative outlook in the market.
As days pass in the crypto market, Bitcoin’s price appears to find support due to the decline in GBTC sales, potentially indicating a similar trend for altcoins. According to CMC data, let’s explore the top 5 performing altcoins of the past 7 days.
At the forefront of this list is Chainlink (LINK), which, at the time of writing, has experienced a significant surge in price following recent news. Despite intraday fluctuations, LINK has surged by 27.67% over a 7-day period, trading around the $18 level.
Moreover, LINK’s 24-hour trading volume witnessed a 29% increase, surpassing $1.5 billion, contributing to an overall volume uptick of 4%, exceeding $10 billion.

Top Altcoins Performance in the Past Week
Taking the second spot on the list is Ronin (RON), boasting a weekly gain of 22%. Despite a slight 1.69% dip in the last 24 hours, RON has delivered a solid 26.48% return to its investors over the past 7 days, currently trading at the $2.83 level.

Meanwhile, Pyth Network (PYTH) has witnessed a remarkable surge in trading volume, soaring by 282% in the last 24 hours to surpass $380 million. This surge underscores significant investor interest in the altcoin.
Among the standout performers this week are Ronin (RON) and Pendle (PENDLE). RON has seen its price climb by 22.84% over the week to reach $2.83, while PENDLE has surged by 19.10% to $2.87.
Lastly, Render (RNDR) secured the fifth position among altcoins delivering gains to investors over the past 7 days. Despite a modest 1.5% increase during the day, RNDR has surged by 18.57% over the week, reaching a price of $4.65.
Bitcoin (BTC) Price Stability Amid Altcoin Weakness
In an environment where altcoins are also experiencing a loss of strength, Bitcoin (BTC) appears to be stabilizing. Throughout the day, BTC has been trading around the $43,000 level, albeit still distant from the $49,000 level observed a few weeks ago.
As of the time of writing, Bitcoin’s 24-hour trading volume stands just above $18.5 billion, reflecting a 15% decrease. However, its overall volume remains below $850 billion, indicating a marginal decline of 0.09%.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#PythNetwork #RION #Chainlink #Altcoin #Cryptocurrency

#Write2Earn Pyth Network is an integral part of the Solana ecosystem, garnering interest from over 50 global investors. So, what is Pyth Network? Let's explore in the following article with @WISE CRYPTO NEWS What is Pyth Network?Pyth Network is an advanced oracle solution that provides highly accurate market data from professional traders and exchanges for smart contracts. The main goal of Pyth Network is to ensure the provision of prices for every asset on the blockchain while empowering data owners and users.What is Pyth Network?Currently, Pyth Network focuses not only on pricing data for the crypto, forex, stocks, and commodities markets but also provides data solutions for developers to build decentralized applications within the Web3 space.What is the operational mechanism of PYTH?The operation mechanism of PYTH involves encouraging users to provide prices for various types of assets. There are three main user groups in the Pyth Network system:Publishers: These are data price providers who receive corresponding fees. Publishers can be traders, exchanges, or other organizations with access to accurate price informationConsumers: Users who utilize the price data provided by Publishers. Consumers can be blockchain protocols, decentralized applications (dApps), or other organizations in need of price data for their operations.Delegators: Participants who stake PYTH tokens and earn fees from this activity. Delegators play a crucial role in enhancing the security and reliability of the Pyth Network.The operational diagram of Pyth Network.The user groups interact with each other through four main mechanisms:Price Aggregation Mechanism: By aggregating prices from various Publishers, this mechanism generates a single, accurate, and reliable price. It helps prevent price manipulation by one or more entities with malicious intent.Data Staking Mechanism: This mechanism determines the stake of participants in staking and distributes fees from staking activities within the Pyth Network. Users receive rewards upon successful completion of staking tasks.Reward Distribution Mechanism: This fair and transparent mechanism distributes rewards to Publishers, incentivizing them to provide accurate price data.Governance Mechanism: Responsible for managing other mechanisms within the Pyth Network ecosystem. This includes tasks such as approving tokens, determining input data fees and common usage, as well as defining PYTH tokens in the staking mechanism.What are the Notable Features of Pyth Network?Pyth Network possesses several notable features, including:Speed: Pyth Network is a reliable market data source that is continuously updated with low latency, at just 400ms (equivalent to 200 thousand updates per day). The data provided by Pyth extends beyond various types of crypto assets to include harder-to-obtain assets such as U.S. stocks, forex pairs, and metal prices.Free of Charge: Pyth Network offers data and open-source completely free of charge. However, users can opt to pay for data to enhance security and guard against the risk of information theft.How to input data into Pyth NetworkAccuracy: Data from Pyth Network is collected from reliable sources such as exchanges, brokers, and financial institutions. This ensures that the information is consistently updated and highly accurate.Security: Pyth Network places a strong emphasis on security and information reliability. PYTH data is protected through security measures such as trust boundaries, minimum provider rules, strict data source compliance checks, and economic incentivization for protocol developers.Information about PYTH TokenToken MetricsToken Name: Pyth TokenTicker: PYTHBlockchain: SolanaToken Standard: SPLTotal Supply: 10,000,000,000 PYTHInitial Circulating Supply: 1,500,000,000 (15%)Token AllocationThe quantity of PYTH tokens will be evenly distributed and unlocked according to a schedule from 6 to 42 months after the launch.Token AllocationPublisher Rewards: 22%Ecosystem Growth: 52%Protocol Development: 10%Community and Launch: 6%Private Sales: 10%Token Vesting Schedule85% of the total token supply of PYTH will be initially locked and unlocked in phases at 6, 18, 30, and 42 months after the token launch.Publisher Rewards (22%): 2% will be unlocked immediately after the Token Generation Event (TGE), then locked for 6 months. Every 12 months, a linear unlock will occur over the subsequent 42 months.Protocol Development (10%): 15% will be unlocked right after TGE and locked for 6 months, followed by gradual vesting over the next 42 months. Unlocking occurs every 12 months.Ecosystem Growth (52%): 13% will be unlocked immediately after TGE, then locked for 6 months, and continue vesting over the next 42 months. Unlocking occurs every 12 months.Private Sales (10%): Locked for 6 months, followed by vesting over the next 42 months. Unlocking occurs every 12 months.Community & Launch (6%): Entirely unlocked from the start with no specified lockup period.$PYTH Project Development Team#investors and PartnersTo become a companion with Pyth, individuals or organizations can opt to become Consumers or Publishers in the Developers section of the Pyth Network. #PYTH has attracted interest from many investors and potential partners such as Alameda Research, AAX, Akuna Capital...Conclusion In conclusion, Pyth Network revolutionizes the market by providing reliable, real-time data across various asset classes. What sets Pyth apart is its swift, accurate, and free data delivery, making it a compelling choice for both consumers and publishers. With notable investors and partners onboard, what is #PythNetwork emerges as a promising force in the blockchain ecosystem.Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.#TrendingTopic

Introduction
In the ever-evolving landscape of decentralized applications (DApps), the role of smart contracts has been transformative, offering enhanced transparency and security. However, a critical challenge persists – these innovations often function in isolated environments, detached from real-time events. Enter Pyth Network, a groundbreaking blockchain oracle designed to bridge the gap between blockchains and real-time data sources. This post provides an in-depth exploration of Pyth Network, sheds light on the PYTH token, and unveils its emergence as a dominant force in decentralized finance (DeFi).
1. Pyth Network Unveiled
What is Pyth Network?A decentralized, pull-based blockchain oracle.Specializes in collecting real-time, high-quality price data for a range of assets.Launched on the Solana blockchain, integrating over 90 exchanges, market makers, and financial service providers.Provides continuous on-chain updates every 400 milliseconds.Impressive Growth:Despite a recent launch in August 2021, Pyth Network supports over $80 billion in trading volume.Used by 200+ applications on- and off-chain, highlighting its significance in the DeFi space.
2. Understanding Blockchain Oracles
The Crucial Role:Serves as a bridge between real-world data and blockchain networks.Translates off-chain data into on-chain insights.Essential for smart contracts to make informed decisions based on real-world events.
3. Pyth Network's Operational Mechanism
Decentralized Architecture:Aggregates real-time data from a diverse network of publishers, including exchanges and financial institutions.Guarantees data integrity, transparency, and reliability.Ideal for high-throughput DeFi ecosystems.On-Demand, Pull Nature:Pyth Network operates on a pull model, streamlining the update process.Updates are created on Pythnet and streamed off-chain via the Wormhole Network on Solana.Promotes gas efficiency and lower latency, a boon for users.
4. Key Innovations of Pyth Network
Unmatched Oracle Update Frequencies:Operating on Solana's high-performance blockchain ensures near-instantaneous data updates.Frequencies reaching 400 milliseconds provide real-time information vital for DeFi applications.Data Confidence Intervals:Pyth sets a new standard by publishing confidence intervals for all price feeds.Certainty measure for asset prices, ensuring continuous availability during market volatility.Use of First-Party Data:Pyth Network aggregates first-party price feeds, minimizing the risk of manipulation.Data from established financial institutions enhances transparency and integrity.
5. PYTH Tokenomics
Core of Pyth Network's Ecosystem:Max supply of 10 billion PYTH tokens.15% (1.5 billion) in initial circulation, remaining 85% subject to vesting over intervals.PYTH holders participate in on-chain governance through the Pyth DAO, influencing key aspects of development.
6. Pyth Network Retrospective Airdrop
Eligibility and Claiming Process:Participants interacting with DApps using Pyth data and active community members eligible.Claiming process involves visiting the airdrop claim page, selecting ecosystems, connecting wallets, and completing the process.
Conclusion: Paving the Way for DeFi's Evolution
In a landscape marked by isolation, Pyth Network emerges as a pivotal intermediary, connecting real-world data with on-chain operations. Its commitment to accuracy, real-time updates, and data confidence intervals positions Pyth as a catalyst for the evolution of decentralized finance. As Pyth envisions revolutionizing how DeFi protocols access high-fidelity financial data, the future promises unprecedented advancements in the realm of decentralized finance.
$PYTH

#PYTH #PythNetwork

Decentralized finance (DeFi) oracles network Pyth will kick off an airdrop of roughly 255 million PYTH tokens to its users and community members beginning in just four days, the network announced Thursday. According to available information, the PYTH token will have a total supply of 10 billion tokens with an initial circulating supply of 1.5 billion.Pyth Network has earmarked almost 6% of the total tokens, or 600 million PYTH tokens, for its airdrop. The distribution includes 100 million tokens for decentralized applications (dApps), 255 million for on-chain activity by DeFi users, and 10 million for active members of the community.The airdrop program is retroactive, rewarding longer-term users who have contributed to the network. Snapshots for on-chain and social activities have already been completed, making only those users who were previously involved in the network eligible.Over 90,000 wallets will be eligible to claim PYTH tokens through the airdrop once it opens on November 20 at 2:00 pm UTC, according to Pyth. Users of dapps that rely on Pyth network data across 27 blockchains—including Ethereum, Solana, Aptos, Polygon, Arbitrum, Avalanche, and Optimism—may be eligible for a token allocation, according to the network. Pyth Network Discord administrators and holders of Pyth NFTs are also likely to receive an allotment. After November 20, the airdrop will remain open until February 18. DeFi users can check their potential eligibility for the airdrop, as well as the amount of PYTH they are set to receive, at the network’s airdrop check page.Pyth users in several countries, however, will be ineligible to participate by default, due to mitigating legal factors. Residents of the United States and the United Kingdom will not be able to claim PYTH tokens; nor will residents of North Korea, Ukraine, Cuba, Syria, Iran, Yemen, South Sudan, the Democratic Republic of the Congo, and eight other nations and territories. Pyth’s native token will have an initial circulating supply of 1.5 billion, according to the network. 8.5 billion additional PYTH tokens will unlock between six and 42 months from launch. DeFi oracle networks like Pyth connect blockchains with data sources from the off-chain world, allowing DeFi smart contracts to execute based on inputs and outputs from real-world events and data. They can enable smart contracts, for example, to automatically order products when an inventory drops; to pay out agreements that hinge on the price of stocks and commodities; or to track carbon emissions and tax a company if a certain level is exceeded. Oracle networks are central to the growing integration of the crypto market and traditional financial markets, as well as the application of smart contracts to traditional businesses. As intermediaries of information, oracle networks can also be exploited. Last fall, a hacker managed to drain $100 million from decentralized exchange Mango Markets by manipulating the oracle-reported price of the MNGO token. Pyth is the fourth-largest such oracle network by total value secured, according to DeFi Llama; Pyth’s chief competitor, Chainlink, boasts over nine times the value secured, and a dominant 45% market share, compared with Pyth’s 4.83%. #Pyth #WhaleAlert #airdrop #Airdrop🪂 #PythNetwork