PYTH Network’s Price Reacts Following Hedera Collaboration

PYTH the Pyth Network token has seen impressive gains over the past few days, and is up over 23% in the past 48 hours. Currently, PYTH trades at USD $0.709 (AUD $1.085), according to data from CoinMarketCap. The run-up comes amid a broader market rally, which saw Bitcoin inch closer to new all-time highs.

Hedera Integration Shows Growth of Oracles

CNA recently reported that Pyth Network had entered a strategic partnership with Hedera. The collaboration between the two aims at enhancing Hedera’s blockchain ecosystem by integrating Pyth’s oracle services.

This will provide Hedera developers with secure, real-time access to price data from all 400+ feeds for various markets, including Forex, cryptocurrencies, and NFTs. Pyth’s unique offering includes live price feeds from newly approved Bitcoin ETFs, significantly broadening the utility and dynamism of dApps on Hedera.

Accurate and reliable price data is crucial for decentralised finance (DeFi) and the Pyth Network is trying to deliver just that with this recent milestone integration.

Listing at Korean ‘Pump’ Exchange Adds to Hype

Upbit, Korea’s largest crypto exchange is known for a good old pump. Coins newly listed at the exchange are often seeing a rally and it is no different this time around for Pyth and Altlayer (ALT) which both were recently listed.

Upbit listed PYTH with trading pairs in Korean Won (KRW) and Bitcoin (BTC), as well as an ALT pair with BTC. Deposits for PYTH are supported on Solana while ALT deposits are supported via Ethereum.

Although both assets have responded positively to the listing, ALT did by no means have similar gains as PYTH—only gaining 4% in seven days. This may indicate that listings on specific, local exchanges have less of an effect on token price than announcements of new projects or collaborations.

Altlayer has previously been available for trading on Binance, HTX, Gate.io, Swyftx and of course Uniswap.