Pyth Network Review & Price Prediction

    • Pyth Network is a new token on Solana providing price feed data for smart contracts, but it has concerns about its high market cap, centralization, and long-term value.
      • Pyth Network is a new token on Solana for oracles, providing price feed data from third-party sources for use in smart contracts on the blockchain, with over $70 billion of trading volume in more than 200 applications.
      • Pyth Network has a high fully diluted market cap with extreme centralization and speculative value per holder, leading to concerns about its long-term value proposition.
    • Pyth Network allows for direct integration of price feed data into applications on the internet computer, reducing the need for oracles like Chainlink in the future.
    • Pyth Network is poorly positioned in the long term due to competition with Chainlink, and the future of crypto may not even require oracles.
    • Pyth Network’s website looks nice and offers price feeds on different chains, but holding the token may not provide real value or ownership over the protocol, making it speculative and lacking control over assets.
    • No team transparency on the website or Coin Market Cap page, leading to lack of trust and investment hesitation.
    • Pyth Network is overvalued at $4 billion for simply pulling price feeds from different exchanges, especially when compared to Internet Computer which offers more technology at a lower value.
    • Pyth Network is not a good investment due to its unappealing branding and lack of potential for long-term success.
      • Pyth network is seen as a pump and dump token with no unique offerings, and the speaker advises against investing in it, emphasizing the importance of finding the best technology in crypto.
    Frances Chambers
    Frances Chambers
    My passion is the crypto currency space, and that is what I write about.

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