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Experienced crypto analyst James recently revealed his expectation of a significant surge in the native token PYTH of the Blockchain oracle network Pyth Network, which successfully launched its decentralized mainnet earlier this week. The analyst predicts that the price of this altcoin could increase by over 800%.
Chainlink (LINK) vs Pyth Network (PYTH)
In a recent analysis video by InvestAnswers’ host James, he stated that after modeling the future price of PYTH based on its market share against its competitor Chainlink (LINK), he switched to the bullish side, expecting a rise in the altcoin. According to the analyst, if PYTH’s market share exceeds 20%, its price could increase by 188% from its current levels compared to Chainlink.
A potential bearish scenario indicates that by 2025, when PYTH’s market share reaches 20% of Chainlink’s, its price could reach $1.48. If Chainlink’s market value reaches 30%, PYTH could rise to $2.78. If PYTH’s market value reaches half of Chainlink’s, the price could reach $5.16. Furthermore, if PYTH matches LINK’s market value, which is technically possible, and if Chainlink’s market value reaches its target of $27-28 billion set for Super Bowl, PYTH’s price could be $10.74.
Alternatively, taking the average of all these scenarios, PYTH could reach $5.04 by 2026. That’s why I’m optimistic about the significant growth potential of this altcoin.
Analyst’s Expectation Aligns with an 880% Increase in PYTH
At the time of writing, PYTH is trading at $0.514 and would need to increase by approximately 880% to reach the price target set by InvestAnswers’ host. While Chainlink’s market value is currently just below $8 billion, Pyth Network’s market value is around $813 million.
The realization of PYTH’s price targets will depend entirely on Chainlink’s performance and how Pyth Network competes with it, as stated by InvestAnswers’ host.
