- Binance is set to list PYTH, the native token of Pyth Network, on February 2, sparking a 20% price rally.
- The Total Value Secured (TVS) on the Pyth Network has reached $2.43 billion, signaling strong adoption and excitement in the crypto community.
Pyth Network’s PYTH Token Gains Momentum Ahead of Binance Listing
In a significant development, Binance, one of the world’s leading cryptocurrency exchanges, has announced its intention to list PYTH, the native token of the Pyth Network. Trading for PYTH on Binance is scheduled to commence on February 2 at 12:00 UTC, which has coincided with a remarkable surge in the token’s price, garnering significant attention within the crypto market.
Binance’s Listing Plans for PYTH
Binance’s listing of PYTH includes the introduction of new spot trading pairs, such as PYTH/BTC, PYTH/USDT, PYTH/FDUSD, and PYTH/TRY. Users on the platform can now deposit PYTH in preparation for trading, with withdrawals set to open on February 3 at 12:00 UTC. It’s worth noting that Binance has applied a “seed tag” to the token, cautioning traders about its high volatility.
Pyth Network’s TVS Reaches New Heights
Simultaneously, the Pyth Network’s Total Value Secured (TVS) has achieved remarkable milestones, totaling $2.43 billion in secured value. This data, provided by DeFiLlama, a prominent blockchain data aggregator, underscores the growing adoption and utility of the Pyth Network in the cryptocurrency ecosystem. This surge in TVS has ignited curiosity and excitement among crypto enthusiasts, marking the first significant upswing since December of the previous year.
PYTH Token Price Surges
The price of the PYTH token has mirrored these developments, surging by an impressive 20.65% within the past 24 hours, reaching a current trading price of $0.4918. Notably, the token has reached its highest monthly value, briefly trading at $0.5208. The weekly and monthly charts also reflect substantial gains of 21.96% and 41.05%, respectively. With additional support from Binance’s listing, the PYTH token is poised for further price appreciation.
In conclusion, Binance’s decision to list PYTH has triggered a significant uptick in both price and adoption for the Pyth Network. The Total Value Secured (TVS) milestone showcases the network’s growing prominence in the crypto space, setting the stage for an exciting period of development and expansion.