The cryptocurrency PYTH has recently seen a 12% drop in the past 24 hours, after an airdrop event by the Pyth Network and crypto exchange startup Backpack. Originally valued at around $77 million, the token had a market capitalization of up to $765 million following the airdrop, with a price of around $0.053, before stabilizing at $0.32 and dropping again. Currently, PYTH has a market cap of more than $719 million, with a 24-hour trading volume of $132.5 million, and with 1.5 billion tokens in circulation from the 10 billion in total. By rankings, Pyth Network is fourth in total value secured, while the token itself is #75 on CoinGecko’s market cap ranking. Pyth Network has promised for PYTH to be listed on Backpack Exchange tomorrow at 8am UTC, and deposits and withdrawals will soon open.



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