altlayerfi.com
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Submitted URL: http://altlayerfi.com/
Effective URL: https://altlayerfi.com/
Submission: On February 08 via api from US — Scanned from DE
Effective URL: https://altlayerfi.com/
Submission: On February 08 via api from US — Scanned from DE
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MORE OPTIONSDISAGREEAGREE Menu * Business * Markets * Analysis * Technology * People * Education * Briefings * SIMETRI Research Sign In Search Sign In * Business * Markets * Analysis * Technology * People * Education * Briefings * SIMETRI Research Search News Crypto Briefing » News » Rising attention on PYTH staking as airdrop fever hits the market RISING ATTENTION ON PYTH STAKING AS AIRDROP FEVER HITS THE MARKET by Gino Matos Jan. 25, 2024 USERS FLOCK TO PYTH STAKING, MOTIVATED BY GUIDES ON X ABOUT QUALIFYING FOR AIRDROPS. SHARE THIS ARTICLE URL Copied Pyth Network’s native token, named PYTH, saw a massive growth in interest. In the last 30 days, 109,614 unique users were registered staking PYTH, and 99.8% of this number was achieved in the last 10 days, according to a Dune Analytics dashboard. The sudden rise in PYTH staking might be related to the airdrop frenzy. A growing number of users on X (formerly Twitter) started publishing guides on how to qualify for rewards by locking the token in a smart contract in mid-January. The upward trend in PYTH staking started around the same time, which might indicate a correlation. Daily variation of PYTH stakers for the last month. Image: Dune Analytics Pyth Network is an oracle service offered to blockchain decentralized applications (dApps), making price feeds and benchmarks available for those dApps. Staking PYTH gives voting power for users to participate in Pyth’s governance. There are currently more than 200 different protocols using Pyth’s oracle services. Guides published on X then infer that staking PYTH might qualify users for a potential airdrop by one of the oracle service consumers. This belief is fueled by how staking Celestia’s native token, TIA, granted token airdrops to protocols that use their modular infrastructure, such as Manta Network and AltLayer. However, the majority of users staking PYTH don’t seem to be ready to lock in a significant amount of capital to follow this strategy. At the time of writing, almost 68% of users have staked 1,100 PYTH or less, which is almost $420 at the token’s current value. SHARE THIS ARTICLE URL Copied Disclaimer Read More Read Less The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. TRENDING NEWS BITCOIN SET FOR SUPPLY SHOCK AS ETF BUYS SURGE AND HALVING NEARS News Jan. 24, 2024 SOLANA MEME COIN BREAKS $55 MILLION TRADING VOLUME IN 8 HOURS News 2 days ago BITCOIN’S PRICE ACTION SETS STAGE FOR POST-HALVING RALLY, DATA SUGGESTS News 2 days ago TEA PROTOCOL ANNOUNCES INCENTIVIZED TESTNET LAUNCH, SETTING A NEW PARADIGM IN OPEN-SOURCE SOFTWARE Press Release 2 hours ago BANXA INTEGRATION BRINGS SEAMLESS, LOW-COST FIAT ON-RAMPS TO SUI, OFF-RAMPS COMING SOON Press Release 4 hours ago © Decentral Media and Cryipto Brieifing® 2024. * Try SIMETRI * About Us * Advertising * Team * Disclaimer * Login * Sign Up SIGN IN TO YOUR ACCOUNT Forgot Password? Sign In or Continue with Google Don't have an account? Create one CREATE YOUR ACCOUNT CryptoBriefing may send me offers and promotions. I accept Terms and Conditions / Privacy Policy Create account or Continue with Google Already have an account? Sign In FORGOT YOUR PASSWORD? Please enter your email address. 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