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Pyth Network Price Prediction 2024: PYTH Circulation up 140%

Last Updated May 20, 2024 9:41 AM
Peter Henn
Last Updated May 20, 2024 9:41 AM

Key Takeaways

  • Pyth Network launched in November 2023. 
  • The price aggregator’s PYTH token has a market cap of more than $1 billion. 
  • What’s next for PYTH?
  • One Pyth Network price prediction says it can reach $1.37 in 2025. 

The Pyth Network, a price aggregator oracle, launched in November 2023 and has already become one of the more notable new crypto platforms. The system has already generated a market cap of more than $1 billion and traded at an all-time high in March 2024 before dropping as the market slumped.

However, there was some good news, as the platform revealed  it had enjoyed 120% user growth in the first three months of 2024.

Meanwhile, in May, a massive token unlock saw the amount of PYTH in circulation rise by 140%.

Pyth Network did not respond to a request for comment.

On May 20, 2024, Pyth Network was worth about $0.39.

But what is Pyth Network (PYTH)? How does Pyth Network work? Let’s see what we can find out, and also take a look at some of the Pyth Network Price Predictions that were being made as of April 23, 2024.

Pyth Network Price Prediction

Let’s examine some of the Pyth Network price predictions being made on May 20, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $0.81 $0.92 $2.83
Prediction #2 $0.4689 $0.722 $5.41
Prediction #3 $0.9758 $1.37 $3.32

First, CoinCodex  had a short-term Pyth Network price prediction that said the token would climb to $0.5012 by May 25 before reaching to $1.25 by June 19. The site’s technical analysis was bearish, with 17 indicators sending discouraging signals and just two making bullish ones. 

Pyth Network Price Prediction for 2024

DigitalCoinPrice  said that PYTH would reach $0.81 this year, while PricePrediction.net  had it stand at $0.4689. Bitnation  claimed it would be worth about $0.9758 in 2024. 

Pyth Network Price Prediction for 2025

Moving on, DigitalCoinPrice’s Pyth Network price forecast had it trade at $0.92 in 2025. PricePrediction.net said it would get to $0.722 then. Bitnation thought PYTH would be worth $1.37 next year.

Pyth Network Price Prediction for 2030

Looking at a more long-term Pyth Network price prediction, DigitalCoinPrice said that the crypto would reach $2.83 in 2030. PricePrediction.net’s PYTH price prediction said it would be worth $5.41 at the start of the next decade. Bitnation thought that it would trade at $3.32 in six years.  

Google BardAI Price Prediction for Pyth Network (as of May 20)

Google’s BardAI platform gave the following price prediction for Pyth Network on May 20. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligence price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next Few Months):

  • Reasons for Optimism: The Fear & Greed Index currently suggests a greedy market, potentially pushing PYTH prices up. Some predictions forecast a rise of 15-20% in the next few months.
  • Reasons for Caution: Despite the Fear & Greed Index, technical indicators show a bearish sentiment for PYTH. Crypto markets are volatile, and short-term corrections are common.

Medium Term (Next 1-2 Years):

  • Reasons for Optimism: Wider adoption of Pyth’s oracle services by DeFi projects could significantly increase demand for PYTH tokens. Price predictions range from a low of $0.38 to a high of $1.79 by 2025.
  • Reasons for Caution: The overall crypto market sentiment can significantly impact PYTH’s price. Regulations or security breaches affecting Pyth could hinder growth.

Long Term (Next 5+ Years):

  • Reasons for Optimism: If the crypto industry matures with a solid regulatory framework, Pyth’s reliable oracle services could be highly valuable. Some predictions suggest PYTH reaching over $2.50 by 2030.
  • Reasons for Caution: Long-term predictions are highly uncertain. Technological advancements might render Pyth’s solution obsolete.


Investing in any cryptocurrency carries risk. While Pyth Network offers a valuable service, conducting your own research (DYOR) is crucial before making any investment decisions. Consider both positive and negative factors influencing PYTH’s price before investing.

Recent Updates from Pyth Network

In May 2024, Pyth Network unlocked 2.13 billion new PYTH, boosting the token’s circulation by 140%.

The previous month, it released a quarterly report, which said its community had grown 120%.

In March, the Solana network surged and PYTH was one of many token’s based on the blockchain to benefit. It reached an all-time high on March 16. However, it fell, despite the formation  of the platform’s Price Feed Council.

On January 18, Pyth Network announced  that $22.7 billion worth of trades had taken place on the platform in December 2023. The previous day, it released  a new constitution for its Decentralized Autonomous Organization (DAO).

PYTH Price History

Now, let’s examine the, admittedly brief, Pyth Network price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Pyth Network price prediction.

Pyth Network Price History
PYTH has fallen consistently since March | Credit: CoinMarketCap

PYTH started trading on the open market in November 2023. On November 20, it traded at an all-time high of $0.6544 before dropping to a low of $0.2774. The price remained volatile but low over the next day or so, before PYTH went on an upturn to trade at $0.55 on November 24. After that, it dropped down, reaching a low of $0.3766 on November 30 before recovering to trade at $0.5189 on December 8. There was another downturn after that, and PYTH closed the year at $0.3241.  

The token continued to drop in the new year, reaching an all-time low of $0.2289 on January 8. After that, it recovered and, on January 18, 2024, it was worth about $0.3595.

The token rallied in March, hitting an all-time high of $1.15 on March 16. It then declined somewhat and, on March 21 2024, it was worth around $1.

It then fell and, by May 20 2024, it was worth about $0.39.

At that time, there were 3.6 billion PYTH in circulation, out of a total supply of a little under 10 billion. This gave the token a market cap of about $1.4 billion, which made it the 63rd-largest crypto by that metric. 

Pyth Network Historical Price Data

Period Pyth Network Price
Last week (May 13 2024) $0.4454
Last month (April 20 2024) $0.6848
Three months ago (February 20 2024) $0.5892
Launch price (November 20 2023) $0.5465
All-time high (March 16 2024) $1.15
All-time low (January 8 2024) $0.2289

Pyth Network Price Analysis

Pyth Network Price Analysis
PYTH fell 70%, but there could be good news to come | Credit: Nikola Lazic/TradingView

The price of PYTH peaked at $1.15 on March 16, ending an uptrend. From there, it fell nearly 70%, dropping to $0.35 on May 20. 

This was an interaction with the horizontal support level, after which it bounced. PYTH is still in a downtrend as it moves in a descending channel. However, there are some signs of a potential reversal. 

On May 15, the daily chart Relative Strength Index (RSI) fell to 25%, indicating extreme oversold conditions. The MACD technical indicator is starting to show green bars on the oscillator, but the moving averages are moving sideways. 

With the decrease seen in this downtrend and signals from the technical indicators, PYTH could be on the way to starting a new bull phase. The first confirmation will come as a breakout above the descending resistance, while the next is establishing the first higher low since March 16. 

If this happens, PYTH could be eyeing values above $1 and make a new all-time high later in 2024.

Is Pyth Network a Good Investment?

It is perhaps a little too early to tell. While the platform has generated interest since it came out in November, we don’t know how much of a take-up it will have. One thing to note is that it largely seems to have followed the market. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in PYTH.

Will Pyth Network go up or down?

No one can really tell right now. While the Pyth Network crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Pyth Network?

Before you decide whether or not to invest in Pyth Network, you will have to do your own research, not only on PYTH, but on other coins and tokens such as The Graph (GRT). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Who are the Founders of Pyth Network?

Pyth Network was founded by a group of anonymous developers in 2023.

Who Owns the most Pyth Network (PYTH) Tokens?

On May 20, 2024, one wallet nearly 15% of PYTH’s supply.

Richest PYTH Wallet Addresses

As of May 20, 2024, the five wallets with the most PYTH  were:

  • Eq9dm4pHewdSVaKdpVJogjLW6upd9hNkiboX2eSncmFV. This wallet held 1,442,416,661 PYTH, or 14.42% of the total supply.
  • 23KfDBTdpaBqfn8aUeoEDgfGJ5368gpnyYGfNkKcECqM. This wallet held 1,352,900,000 PYTH, or 13.53% of the total supply.
  • 5ULtZcyfuWvKuwB555WN4W1vsVW4F3yHU9UW1Gd7kAWy. This wallet held 637,500,000, or 6.38% of the total supply.
  • 61YcP8msC5F3ZTLy99VWM2oom6y47UzNmSQQdXMmdCG1. This wallet held 600,000,000 PYTH, or 6% of the total supply.
  • 984XkyV6X29LUYSi476KC5cTFNMyegrx81EfHj6qWSeV. This wallet held 518,650,003 PYTH, or 5.19% of the total supply.

Fact Box

Supply and distribution Figures
Total supply 9,999,988,981
Circulating supply (as of May 20, 2024) 3,624,988,981 (36.24% of total supply)
Holder distribution Top 10 holders owned 65.84% of supply as of May 20, 2024

From the Whitepaper

In its technical documentation, or whitepaper , the Pyth Network says it wants to make financial data available to DeFi developers and the general public. 

It says: “The Pyth protocol is designed to incentivize participants to continually publish price updates for various products (such as BTC/USD). Each product has a price feed that continually updates with its current price and a confidence interval represent- ing the estimated uncertainty of the price.”

Pyth Network (PYTH) Explained

The Pyth Network is a platform designed to provide market data to blockchains. What makes it different from other, similar, systems is that it takes the data directly from traders and exchanges rather than rely on third-party information. This, at least in theory, means that it more accurate than its rivals. 

It was founded in 2023, and it is based on the Solana (SOL) blockchain. The PYTH token powers the Pyth Network.  

How Pyth Network Works

Data providers send information to the Pyth Network, while its oracle program makes an average price of each asset. Then, the price is published which allows people to use smart contracts, computer programs that automatically execute once certain conditions are met, to access the data.

The platform claims to be able to calculate a consensus price in 100 milliseconds.

People can stake, or set aside, PYTH in return for rewards, which are also paid in PYTH. PYTH can also be bought, sold, or traded on exchanges. 

Because PYTH is based on Solana, it is a token, not a coin. You might see references to such things as a Pyth Network coin price prediction, but these are wrong. 

Pyth Network Attention Tracker

Pyth Network Google Search Volume
Pyth Network Google search volume | Credit: Google

Pyth Network Google search volume | Credit: GoogleHere is a chart for the Pyth Network Google search volume for the past 90 days. This represents how many times the term “Pyth Network” has been Googled over the previous 90 days.


How many Pyth Network tokens are there?

On May 20, 2024, there were about 3.6 billion PYTH in circulation out of a total supply of almost 10 billion.

Will Pyth Network reach $10?

It could do, but not for a while. PricePrediction.net says it can break $10 in 2032.

What is Pyth Network used for?

PYTH pays for rewards on the Pyth Network price aggregator platform, and it can also be bought, sold, and traded on exchanges.


Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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