Pyth’s historic inclusion among the oracle networks selected to deliver official GDP data on-chain by the US Department of Commerce left many investors underexposed, resulting in nearly 80% appreciation in its price on Thursday.
Despite broader market uncertainty that has kept Bitcoin below $111k for several days, $PYTH has demonstrated resilience, currently trading around $0.21 and securing a spot among the top crypto gainers this week.
A zoomed-out look at the technicals indicates that the crypto asset could be gearing up for another big move, perhaps to new multimonth highs by September.
Recent events, especially the growing adoption of its oracle network, appear to have ignited renewed investor interest and optimism for PYTH token’s price growth potential.
For sidelined investors looking to enter the PYTH market ahead of its next bullish move, experts have recommended Best Wallet as the ideal platform. Here are a few steps to follow to get started:
While Bitcoin and most altcoins are still stuck in their lows, PYTH has been experiencing a significant upward trend, moving up by nearly 70% on the monthly chart. The token’s market cap is also targeting the monumental $1.5 billion threshold, having surpassed $1.2 billion at press time.
PYTH’s price pump can be attributed to several interconnected factors, the most important being the White House’s announcement that the Department of Commerce will publish official economic data through Pyth and Chainlink.
The GDP figures would be distributed across nine blockchains, including Bitcoin, Ethereum, Solana, Avalanche, Tron, Polygon, and Stellar.
Interestingly, Mike Cahill, co-founder of Pyth’s parent firm Douro Labs, was the only executive mentioned in the official press release, underscoring his firm’s prominent role in the initiative.
That alone explains why the asset has been on fire over the past 24 hours, outperforming even Chainlink’s LINK, which has gained only 5% surge in the same period.
Pyth functions as a first-party oracle network, delivering price feeds directly from market makers and exchanges. It supports thousands of assets, including stocks, ETFs, and currencies, across multiple blockchain ecosystems. This wide coverage has positioned it as a leading player in the oracle sector.
Over the past few months, Pyth’s adoption metrics have shown continuous growth. Reports confirm that more platforms are integrating Pyth feeds, while new asset classes are being added. This expansion is important because consistent demand for reliable data can drive revenue.
Tokenomics remain an important consideration as well. PYTH has a total supply of 10 billion tokens, with about 5.75 billion currently circulating. A scheduled unlock of 236 million tokens, around 2.36% of supply, will take place on September 20, 2025. While unlocks do not always lead to immediate selling, they often influence short-term price behavior and can limit rallies as traders adjust positions.
The balance between new demand created by adoption and additional supply entering circulation will shape performance in the coming months. If integrations continue to grow while the market absorbs unlocks smoothly, PYTH may maintain its upward momentum. However, if demand slows or supply increases rapidly, price strength could face challenges.
PYTH recently broke above a long-term descending trendline, signaling a change in market direction. The move started near $0.12 and pushed above $0.20, confirming new bullish momentum. On the daily chart, higher highs are forming, and volume is supporting the trend. Key support levels remain near $0.17 and $0.19, while resistance stands around $0.24 to $0.30.
Traders are closely watching how the price behaves around these zones. A strong hold above $0.19 could allow continuation toward higher ranges, while any slip back into the $0.17 area could weaken the setup.
Technical indicators such as RSI and moving averages on both the 4-hour and daily charts suggest that the token may consolidate before expanding further. Acceptance above $0.26 would strengthen the bullish case.
For now, RSI holds neutral at 53.17 while MACD shows bullish divergence. Price broke $0.12 support and targets Fibonacci resistance levels.
The strength of the breakout has also been reflected in the token’s trading activity. However, while such surges often show strong confidence from market participants, they also raise the possibility of sharp pullbacks. Traders generally expect consolidation before any new push higher.
Looking ahead, analysts see two potential paths. If PYTH closes firmly above $0.30, it could advance toward $0.40 or even $0.50, testing areas where previous breakdowns occurred. On the other hand, failure to hold the $0.17-$0.19 support range may return the token closer to its origin near $0.12.
Until the US Department of Commerce news sparked the latest pump, PYTH had been trading within a relatively unstable range in August. In fact, earlier this week, the token hit a monthly low of $0.10, owing to the uncertainty in the broader market.
However, recent developments within the ecosystem seem to have injected a new sense of vitality into the token’s market performance. PYTH already climbed to $0.21, meaning those who bought the dip are now sitting on nearly 80% gains. This rally has pushed the token’s market cap above $1.2 billion, firmly placing it as the 69th largest crypto asset by market capitalization.
Given the ecosystem’s current role in the US Department of Commerce’s initiative, PYTH appears to be setting up to continue its bullish trajectory. Analysts are speculating that it may even target a resistance level of $0.4 in September, a crucial point that, if surpassed, could lay the groundwork for even greater gains.
While price volatility is expected due to broader macroeconomic conditions, PYTH’s recent activity hints at the potential for sustained growth in the coming weeks.
With multiple factors, both technical and fundamental, signaling a bullish continuation for PYTH in the weeks ahead, investors are watching closely and eager to gain exposure.
But what better way to enter the PYTH market than using secure, self-custody solutions like Best Wallet? The New York Post-approved crypto wallet, for example, allows investors to buy and trade PYTH and other assets without going through the long, rigorous process common with CEXs.
Apart from being non-custodial, it also has no KYC requirements, which means users can access both basic and advanced features without jumping through the hoops of identity verification. This makes the wallet exceptionally secure, with the added integration of cutting-edge tools like Fireblocks providing institutional-grade protection for assets.
Here, users can buy PYTH using fiat, thanks to its on-ramp feature, execute cross-chain swaps, and even gain access to some of the biggest early-stage cryptocurrencies without leaving the app.
Another defining feature is its multichain model. So far, it has added support for multiple blockchains, including Bitcoin, Ethereum, Base, Polygon, Binance Smart Chain, and most recently Solana. The goal is to support more than 60 blockchains, which could make it one of the most versatile and widely adopted wallets on the market.
The latest update to the Best Wallet ecosystem, which added support for Solana, also introduced gamified rewards that users can earn by interacting with the wallet daily. In addition to that, the new version rolled out support for the Korean language and a new on-ramp provider called Wert.
Meanwhile, much like PYTH, Best Wallet also offers real-time market data through an advanced trading dashboard featuring graphical statistics and market indicators, helping users trade with full confidence without having to navigate multiple interfaces.
Finally, it has a native token BEST, which is currently in its pre-launch stage, providing a mix of accessibility and rewards to early investors. Over $15 million has already been raised in the BEST presale, indicating strong demand from the investing community.
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While PYTH stands as a promising long-term investment with a strong foundation, its established position and large market cap mean that growth, while steady, may be more gradual.
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With a unique narrative, strong community support, and practical use cases, WEPE has the potential to ride the bullish wave in the short term, and perhaps even in the long term, making it a project worth adding to one’s portfolio.
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