Pyth Network employs secure data ranges to offer a unique approach to price oracles, providing a more comprehensive view of market conditions. This approach is particularly beneficial during periods of high volatility or low liquidity, offering a more detailed analysis of market prices and uncertainty. In this article, you can find answers to many questions such as what Pyth Network is, now that it has been listed and is available for trading on Binance, and where to purchase the network’s native asset, PYTH coin.
What is Pyth Network?
Pyth Network uses secure data ranges to offer a unique approach to price oracles, ensuring a more comprehensive view of market conditions. Its integration with Solana and other chains highlights its versatility and wide applicability. The network’s stake weighting, quality scoring, and calibration-based reward system encourage accuracy and reliability.
Pyth Network provides data from exchanges, market makers, and trading firms, offering secure intervals of information. This allows for a more nuanced view of the market, especially during periods of high volatility or low liquidity.
The core components of the network include:
- First-Party Publisher Oracle: Ensures high accuracy and timeliness by sourcing data directly from primary sources.
- Secure Data Ranges: Gives users the ability to measure not just the price but also the degree of uncertainty around it.
- Multi-Chain Integration: Integration with Solana and other chains provides a broad range of solutions.
Pyth Network operates through three stakeholder groups: consumers, publishers, and delegates. The interaction among these groups ensures the smooth operation and reliability of the network.
PYTH coin is the native asset of the Pyth Network and is designed for various purposes. It serves functions such as staking, contributing to the network’s operations, and ensuring security. With a total supply of 9,999,989,237 PYTH coins, as of February 2, 2024, the circulating supply is 1,499,989,237 coins.
Pyth Network is listed on Binance, and it is reported that on February 2, 2024, the PYTH coin reached its all-time high price of $0.6544. The current price is trading at 24.27% below its ATH.
Where to Buy PYTH Coin?
PYTH coin, with its transaction volume, can be securely bought and sold on Binance, the world’s largest cryptocurrency exchange. JUP coin was listed on Binance on February 2, 2024, and trading pairs for PYTH/BTC, PYTH/USDT, PYTH/FDUSD, and PYTH/TRY were opened.
To purchase PYTH coin, one must first become a member of the Binance exchange if not already. After completing the membership process, funds such as cryptocurrency or fiat currency like Turkish Lira should be transferred to the account wallet on Binance. Once the transfer is complete, PYTH coin can be purchased from any of the above trading pairs.
To buy from the PYTH/USDT trading pair, one should first navigate to the interface of this trading pair. In the limit tab of the trading pair interface, the desired amount to be purchased is entered. Once the amount is entered, the purchase is completed with the PYTH Buy order.
