Pyth Network
PYTH
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Pyth Network price
in USD$0.12547
-- (--)
USD
Market cap
$721.74M #66
Circulating supply
5.75B / 10B
All-time high
$1.160
24h volume
$61.02M
4.2 / 5
About Pyth Network
Pyth Network ($PYTH) is a cryptocurrency designed to power decentralized data infrastructure. It supports real-time, high-fidelity price feeds sourced directly from over 120 trusted financial institutions, including exchanges and market makers. Integrated across 100+ blockchains, Pyth provides essential data for DeFi applications like lending, trading, and stablecoins. Beyond DeFi, it is building bridges to institutional finance, enabling on-chain distribution of critical economic metrics such as GDP data. With sub-second updates and cryptographic security, Pyth is positioning itself as a foundational layer for both decentralized and traditional markets. Its utility lies in connecting reliable data to smart contracts, driving transparency and innovation in global finance.
AI insights
Pyth Network’s price performance
Past year
-59.66%
$0.31
3 months
+6.32%
$0.12
30 days
-27.78%
$0.17
7 days
-24.98%
$0.17
Pyth Network’s biggest 24-hour price drop was on Nov 20, 2023, (UTC+8), when it fell by $0.2995 (-83.31%). In Mar 2024, Pyth Network experienced its biggest drop over a month, falling by $0.71 (-61.21%). Pyth Network’s biggest drop over a year was by $0.9412 (-81.14%) in 2024.
Pyth Network’s all-time low was $0.047 (+166.95%) on Oct 11, 2025, (UTC+8). Its all-time high was $1.160 (-89.19%) on Mar 16, 2024, (UTC+8). Pyth Network’s circulating supply is 5,749,983,319 PYTH, which represents 57.49% of its maximum circulating supply of 10,000,000,000 PYTH.
Pyth Network on socials
🗳 Pythenians Treasury — Poll #1 is LIVE
As part of the community consultation process announced in our last Treasury Update, we’re kicking things off with the first poll on future asset allocation
📅 Voting is open for 7 days
Your voice matters — this is how we shape the next steps of the treasury strategy together
Cast your vote on the @PythNetwork Discord and be part of the conversation🔮
This might be the earliest alpha I've found; if the data is correct, I am the 80th active user.
日拱一卒王小楼💢Ⓜ️Ⓜ️T
Reflect Money Project Research Report
Key Points
@reflectmoney
Reflect Money is an innovative yield-bearing stablecoin protocol launched on Solana in September 2025, having secured $3.75 million in seed funding led by a16z crypto CSX. Its flagship product, USDC+, is the first native yield-bearing stablecoin on Solana, offering an annual yield of approximately 11%. Currently, the total value locked (TVL) is $2.2 million, with 79 active users. The project is in its early stages (alpha testing), focusing on automating DeFi strategies through a non-custodial, fully liquid approach, but it is relatively small and only trades on DEX.
Fundamental Analysis of the Project
Project Overview
Reflect Money positions itself as the "backbone-level financial infrastructure" of the Solana ecosystem, addressing the capital efficiency issues of on-chain finance by tokenizing DeFi strategies (such as lending and basis trading) into liquid, insured stablecoins. The protocol emphasizes trusted neutrality, executing strategies automatically through permissionless software without manual intervention or custody, equipped with verifiable on-chain insurance (based on zero-knowledge proofs and re-staking technology).
Core Innovations:
1. Autonomous Currency: The stablecoin generates yield around the clock while remaining tradable and transferable.
2. Capital Efficiency: Eliminates intermediaries, achieving a 100-fold increase in capital efficiency.
3. Developer-Friendly: Provides an SDK that allows developers to issue customized stablecoins in 60 seconds.
Funding Situation
Notably, this marks a16z crypto CSX's first involvement in a DeFi project on Solana, validating the growth and demand for financial primitives on this network.
Team Information
Public Team Members:
Nico (Co-founder/CTO): Responsible for the technical vision, actively shares technical content on Twitter (@0xNIC0), focusing on delta-neutral strategies and anti-custodial design.
Product Features: USDC+ Yield-Bearing Stablecoin
Core Functions:
Upcoming Products:
1. USDJ: A stablecoin hedged based on JLP (Jupiter Liquidity Pool).
2. LST Stablecoin: Supports a wider range of liquid staking strategies.
Risk Assessment:
1. Low Risk (over-collateralized, no leverage).
2. Pricing using Pyth oracle.
3. Smart contract audits in progress (1 out of 2 completed).
Development Roadmap
Current Stage (Q4 2025):
1. USDC+ mainnet launch (cap of $10 million).
2. Expansion of alpha access.
3. Team recruitment expansion.
Recent Plans (October-November 2025):
1. Launch of USDJ and LST stablecoins.
2. Support for Colosseum Cypherpunk hackathon (prize of $2.5 million).
3. Integration of privacy technologies (such as Umbra) for private yield applications.
Mid-term Goals:
1. Provide permissionless stablecoin issuance for the protocol.
2. Deepen integration within the Solana ecosystem (DAO, RWA applications).
3. Expand insurance coverage through re-staking.
Long-term Vision:
1. Expand to a stablecoin market exceeding $1 trillion.
2. Compete with Ethena through Solana-native automation.
3. Partner ecosystem.
Strategic Partnerships:
Technical Integration: Drift (perpetual contracts), Jupiter (DEX aggregator), Pyth (oracle).
Infrastructure: EQ (wallet/security), Big Brain Holdings (funding/operations).
Ecosystem: Umbra (privacy yield applications), a broad Solana developer community.
Ecosystem Positioning:
Modular design, deeply integrated with Solana's composability.
Focus on heavily partnered Solana ecosystem.
On-chain Data Analysis
Core Metrics of the Protocol
Technical Features:
1. Permissionless minting/redeeming (zero fees, no LP required).
2. Executes delta-neutral strategies through Solana programs.
3. Audit Status: USDC+ has completed 1 out of 2 audits.
Integration within Solana DeFi Ecosystem
Core Integrations:
1. Drift Protocol: The primary venue for capturing cross-margin interest rates.
2. Money Markets: USDC collateral deployed to blue-chip protocols (Marginfi, Kamino, Save).
3. Re-staking/Insurance: Plans to collaborate with Jito (liquid staking) and Solayer to establish a "global insurance" pool.
4. Wallets/Exchanges: Compatible with Solana wallets (such as Phantom).
Ecosystem Positioning:
1. Aligns with Solana's high-throughput DeFi (upgraded to 65,000 TPS).
2. Provides "software as stablecoin" solutions for applications.
3. Reduces reliance on off-chain yields.
4. Potential expansion through Solana Pay or Jupiter DEX.
Comparison with Other Yield-Bearing Stablecoins
Competitive Analysis:
1. Scale Gap: USDC+ is much smaller than USDe ($12.6 billion) and USDf ($1.8 billion).
2. Yield Advantage: 11% APY leads the category (USDe 7.4%, USDf 9%), benefiting from Solana's high lending rates.
3. Collateral Risk: Uses low-risk lending (similar to GHO), with insurance enhancing advantages.
4. Adoption Potential: Attracts Solana farmers ($12 billion stablecoin TVL), but lacks global integration like USDe.
5. Growth Trend: The yield-bearing stablecoin sector has grown by 5.4% quarter-over-quarter; USDC+ could capture Solana's share after reaching its cap.
Comprehensive Assessment
Reflect Money, as an early project that has just completed its seed funding and launched its mainnet product, demonstrates a strong technical foundation and ecosystem support. The lead investment from a16z crypto CSX and participation from Solana Ventures provide significant credibility backing for the project. Its USDC+ product fills the gap for native yield-bearing stablecoins in the Solana ecosystem by offering an 11% APY, full liquidity, and on-chain insurance.
Core Advantages:
Strong VC support and integration within the Solana ecosystem.
Innovative non-custodial, fully insured architecture.
Yield rates above market averages.
Developer-friendly SDK and programmability.
Main Challenges:
Extremely small TVL ($2.2 million) limits liquidity and market impact.
Alpha stage access restricts user growth.
Limited team information disclosure.
Lack of CEX listings leads to limited liquidity.
Intense competition from mature rivals like USDe.
Development Prospects: The project is in a very early stage, and its success will depend on its ability to expand its user base while maintaining a $10 million cap, subsequently scaling to match the $12 billion stablecoin ecosystem of Solana. Given Solana's high growth trajectory and regulatory changes like the GENIUS Act, Reflect holds a strategic positioning advantage in the native yield-bearing stablecoin space. However, the project needs to rapidly expand its TVL, increase exchange listings, and establish broader DeFi integrations to secure a foothold in the competitive stablecoin market.
cc @0xNIC0
Reflect Money Project Research Report
Key Points
@reflectmoney
Reflect Money is an innovative yield-bearing stablecoin protocol launched on Solana in September 2025, having secured $3.75 million in seed funding led by a16z crypto CSX. Its flagship product, USDC+, is the first native yield-bearing stablecoin on Solana, offering an annual yield of approximately 11%. Currently, the total value locked (TVL) is $2.2 million, with 79 active users. The project is in its early stages (alpha testing), focusing on automating DeFi strategies through a non-custodial, fully liquid approach, but it is relatively small and only trades on DEX.
Fundamental Analysis of the Project
Project Overview
Reflect Money positions itself as the "backbone-level financial infrastructure" of the Solana ecosystem, addressing the capital efficiency issues of on-chain finance by tokenizing DeFi strategies (such as lending and basis trading) into liquid, insured stablecoins. The protocol emphasizes trusted neutrality, executing strategies automatically through permissionless software without manual intervention or custody, equipped with verifiable on-chain insurance (based on zero-knowledge proofs and re-staking technology).
Core Innovations:
1. Autonomous Currency: The stablecoin generates yield around the clock while remaining tradable and transferable.
2. Capital Efficiency: Eliminates intermediaries, achieving a 100-fold increase in capital efficiency.
3. Developer-Friendly: Provides an SDK that allows developers to issue customized stablecoins in 60 seconds.
Funding Situation
Notably, this marks a16z crypto CSX's first involvement in a DeFi project on Solana, validating the growth and demand for financial primitives on this network.
Team Information
Public Team Members:
Nico (Co-founder/CTO): Responsible for the technical vision, actively shares technical content on Twitter (@0xNIC0), focusing on delta-neutral strategies and anti-custodial design.
Product Features: USDC+ Yield-Bearing Stablecoin
Core Functions:
Upcoming Products:
1. USDJ: A stablecoin hedged based on JLP (Jupiter Liquidity Pool).
2. LST Stablecoin: Supports a wider range of liquid staking strategies.
Risk Assessment:
1. Low Risk (over-collateralized, no leverage).
2. Pricing using Pyth oracle.
3. Smart contract audits in progress (1 out of 2 completed).
Development Roadmap
Current Stage (Q4 2025):
1. USDC+ mainnet launch (cap of $10 million).
2. Expansion of alpha access.
3. Team recruitment expansion.
Recent Plans (October-November 2025):
1. Launch of USDJ and LST stablecoins.
2. Support for Colosseum Cypherpunk hackathon (prize of $2.5 million).
3. Integration of privacy technologies (such as Umbra) for private yield applications.
Mid-term Goals:
1. Provide permissionless stablecoin issuance for the protocol.
2. Deepen integration within the Solana ecosystem (DAO, RWA applications).
3. Expand insurance coverage through re-staking.
Long-term Vision:
1. Expand to a stablecoin market exceeding $1 trillion.
2. Compete with Ethena through Solana-native automation.
3. Partner ecosystem.
Strategic Partnerships:
Technical Integration: Drift (perpetual contracts), Jupiter (DEX aggregator), Pyth (oracle).
Infrastructure: EQ (wallet/security), Big Brain Holdings (funding/operations).
Ecosystem: Umbra (privacy yield applications), a broad Solana developer community.
Ecosystem Positioning:
Modular design, deeply integrated with Solana's composability.
Focus on heavily partnered Solana ecosystem.
On-chain Data Analysis
Core Metrics of the Protocol
Technical Features:
1. Permissionless minting/redeeming (zero fees, no LP required).
2. Executes delta-neutral strategies through Solana programs.
3. Audit Status: USDC+ has completed 1 out of 2 audits.
Integration within Solana DeFi Ecosystem
Core Integrations:
1. Drift Protocol: The primary venue for capturing cross-margin interest rates.
2. Money Markets: USDC collateral deployed to blue-chip protocols (Marginfi, Kamino, Save).
3. Re-staking/Insurance: Plans to collaborate with Jito (liquid staking) and Solayer to establish a "global insurance" pool.
4. Wallets/Exchanges: Compatible with Solana wallets (such as Phantom).
Ecosystem Positioning:
1. Aligns with Solana's high-throughput DeFi (upgraded to 65,000 TPS).
2. Provides "software as stablecoin" solutions for applications.
3. Reduces reliance on off-chain yields.
4. Potential expansion through Solana Pay or Jupiter DEX.
Comparison with Other Yield-Bearing Stablecoins
Competitive Analysis:
1. Scale Gap: USDC+ is much smaller than USDe ($12.6 billion) and USDf ($1.8 billion).
2. Yield Advantage: 11% APY leads the category (USDe 7.4%, USDf 9%), benefiting from Solana's high lending rates.
3. Collateral Risk: Uses low-risk lending (similar to GHO), with insurance enhancing advantages.
4. Adoption Potential: Attracts Solana farmers ($12 billion stablecoin TVL), but lacks global integration like USDe.
5. Growth Trend: The yield-bearing stablecoin sector has grown by 5.4% quarter-over-quarter; USDC+ could capture Solana's share after reaching its cap.
Comprehensive Assessment
Reflect Money, as an early project that has just completed its seed funding and launched its mainnet product, demonstrates a strong technical foundation and ecosystem support. The lead investment from a16z crypto CSX and participation from Solana Ventures provide significant credibility backing for the project. Its USDC+ product fills the gap for native yield-bearing stablecoins in the Solana ecosystem by offering an 11% APY, full liquidity, and on-chain insurance.
Core Advantages:
Strong VC support and integration within the Solana ecosystem.
Innovative non-custodial, fully insured architecture.
Yield rates above market averages.
Developer-friendly SDK and programmability.
Main Challenges:
Extremely small TVL ($2.2 million) limits liquidity and market impact.
Alpha stage access restricts user growth.
Limited team information disclosure.
Lack of CEX listings leads to limited liquidity.
Intense competition from mature rivals like USDe.
Development Prospects: The project is in a very early stage, and its success will depend on its ability to expand its user base while maintaining a $10 million cap, subsequently scaling to match the $12 billion stablecoin ecosystem of Solana. Given Solana's high growth trajectory and regulatory changes like the GENIUS Act, Reflect holds a strategic positioning advantage in the native yield-bearing stablecoin space. However, the project needs to rapidly expand its TVL, increase exchange listings, and establish broader DeFi integrations to secure a foothold in the competitive stablecoin market.
cc @0xNIC0
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Pyth Network on OKX Learn
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Pyth Network FAQ
Currently, one Pyth Network is worth $0.12547. For answers and insight into Pyth Network's price action, you're in the right place. Explore the latest Pyth Network charts and trade responsibly with OKX.
Cryptocurrencies, such as Pyth Network, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Pyth Network have been created as well.
Check out our Pyth Network price prediction page to forecast future prices and determine your price targets.
Dive deeper into Pyth Network
Pyth Network is a decentralized oracle solution that provides real-time, high-fidelity financial market data to multiple blockchains. Launched in 2021, Pyth Network was created to address the need for accurate, low-latency market data in the rapidly growing decentralized finance (DeFi) sector. The network sources its data from over 90 first-party publishers, including some of the world's largest exchanges and market makers. Pyth Network's mission is to democratize access to financial market data, making it readily available to DeFi applications and the general public. By doing so, it aims to empower individuals to take control of their financial lives and foster the growth of the DeFi ecosystem.
How does Pyth Network work
Pyth Network operates by incentivizing market participants to share the price data they collect as part of their existing operations. This data is then aggregated and published on-chain for use by on- or off-chain applications. The network uses an appchain called Pythnet to store and update the state of each price feed. Pythnet is a proof-of-authority blockchain where each publisher runs a validator. PYTH prices are broadcast from this appchain to other target chains by way of a cross-chain architecture that uses decentralized cross-chain messaging protocols, such as the Wormhole network.
Pyth Network price and tokenomics
The Pyth Network's native token is PYTH. The maximum supply of PYTH is 10,000,000,000, with an initial circulating supply of 1,500,000,000 (15%). The token distribution is as follows: Publisher Rewards (22%), Ecosystem Growth (52%), Protocol Development (10%), Community and Launch (6%), and Private Sales (10%). The PYTH tokens are initially locked and will unlock 6, 18, 30, and 42 months after the initial token launch. The PYTH token plays a crucial role in the network's governance, allowing token holders to guide protocol development and shape the network.
About the Founder
Douro Labs, under the leadership of CEO Mike Cahill, established Pyth Network with a focus on blockchain technology. Their aim was to facilitate the integration of off-chain and on-chain data, particularly in Ethereum (EVM) and Solana ecosystems, to enable real-time data feeds for blockchain applications.
Pyth Network highlights
Pyth Network has successfully integrated with over 90 exchanges, market makers, and financial services providers, making it the largest first-party oracle network for financial data. The network supports more than 300 real-time price feeds across digital assets, equities, ETFs, FX, and commodities. Furthermore, Pyth Network's innovative pull oracle design has enabled it to scale to thousands of symbols and near limitless blockchains in coverage. The network's future plans include the implementation of the Perseus Upgrade and the transition to a permissionless mainnet with token-led governance.
Frequently Asked Questions about Pyth Network
- What is Pyth Network and its relation to Bitcoin and Ethereum?
Pyth Network is a decentralized oracle that offers market data for digital assets, including Bitcoin (BTC) and Ethereum (ETH). It aggregates high-fidelity price feeds for DeFi and blockchain applications.
- How does Pyth Network verify the accuracy of its price feeds?
Pyth Network employs a decentralized approach, sourcing data from multiple providers and using algorithms for data verification.
- What is the role of Pyth price feeds in cryptocurrency trading?
Pyth price feeds provide market data for various assets, including equities and cryptocurrencies, which can assist in trading decisions and market liquidity.
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OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
Market cap
$721.74M #66
Circulating supply
5.75B / 10B
All-time high
$1.160
24h volume
$61.02M
4.2 / 5