In a significant gust of developments, Binance, one of the world’s leading cryptocurrency exchanges, recently announced plans to list PYTH, the native token of the Pyth Network. As per the crypto exchange’s statement, the leading global entity intends to list the PYTH token and commence trading for the same on February 2 at 12:00 UTC.

Meanwhile, the token’s price chart showcased a phenomenal surge today, garnering noteworthy attention among crypto market enthusiasts. This surge further seems to align with Binance’s listing announcement, as the token’s recent advancements are making waves across the vast sea of crypto.

PYTH Listing Emerges As TVS Scales New Heights

According to the statement released by Binance, the crypto exchange plans to introduce new spot trading pairs PYTH/BTC, PYTH/USDT, PYTH/FDUSD, and PYTH/TRY into the market. Furthermore, it proclaimed that users on the platform could now start depositing PYTH and prepare for trading.

Meanwhile, the firm plans to open withdrawals for the same on February 3 at 12:00 UTC, whereas the PYTH listing fee set by Binance remains 0 BNB. In addition, Binance has even applied the “seed tag” next to the token, cautioning traders of high volatility orbiting the digital asset.

On the other hand, mirroring the Pyth Network’s listing development, the ecosystem’s TVS (Total Value Secured) also scaled new summits in recent days. As per blockchain insights offered by DeFiLlama, a leading blockchain data aggregator, the TVS secured by PYTH totaled $2.43 billion, signaling substantial adoption of the Pyth Network across the crypto realm. Notably, this surge sparked immense curiosity among crypto market fanatics globally, as it is the first noteworthy upswing witnessed since December last year.

Simultaneously, the PYTH price chart also mirrored the development and surged phenomenally.

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PYTH Price Rockets

As of press time, the Pyth Network price surged 20.65% over the past 24 hours and is currently trading at $0.4918. Notably, the token reached its monthly high today, briefly trading at $0.5208.

Additionally, even the weekly and monthly charts for the token showcased a 21.96% and 41.05% surge, respectively. This upswing seems to fall in line with the Pyth Network’s recent TVS upsurge chronicle. Moreover, with additional support from Binance’s listing announcement, the token’s price is expected to be bolstered further.

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The post Binance To List Pyth Network, PYTH Price Soars 20% appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am