In just a week, Pyth Network's native token has surged over 25%, trading around $0.045. This uptick comes as excitement builds for the upcoming Pyth Core upgrade, slated for July 31, which will fundamentally change how the network provides its price data.
The upgrade marks the end of free access to the network's price feeds, transitioning to a paid subscription model. This shift is significant as all revenue generated will directly benefit the Pyth DAO, enabling monthly token buybacks to strengthen the ecosystem. Current market capitalization stands at approximately $355 million, according to CoinMarketCap.
Upcoming Changes and Pricing Structure
Since 2021, developers freely accessed Pyth's price data. However, post-upgrade, each access to the Price Feeds API will necessitate an active paid plan and a key managed through the Pyth Terminal. The new pricing structure is as follows:
- Starter Plan: $500/month for crypto prices, NAV data, redemption rates, and indices.
- Individual asset classes: $2,500 to $6,500/month, depending on the asset type.
- Full access: $10,000/month for everything.
The Pyth team highlights that API endpoints will remain the same, ensuring that existing integrations remain intact. Additionally, by merging core feeds with the scaling technology of Pyth Pro, the project aims to enhance price accuracy and reduce latency.
Market Performance Insights
Recent trading patterns show the PYTH token has successfully breached its 50, 100, and 200-period moving averages, a strong indicator of upward momentum. However, caution is advised as the last peak occurred in early May when the token reached above $0.062. As traders prepare for the July upgrade, it will be interesting to see how this momentum plays out in the coming weeks.
This material is informational and not financial advice.
