Staking Wallets for PYTH Surpass 110,000 Amid Expectations of Airdrop

Over the past few weeks, staking activity on the Pyth Network has surged dramatically, attracting participation from over 110,000 wallets.

Staking wallets for PYTH surpass 110,000 amid expectations of airdrop. Image: Kraken

According to data from Dune Analytics, the number of cryptocurrency wallets staking the PYTH token on the Pyth Network has exceeded 110,000, marking significant growth in recent weeks.

At the beginning of December 2023, the number of new staking wallets for Pyth was less than 10,000, but it has since increased more than tenfold.

Staking wallets for PYTH over time. Source: @etaetaeta on Dune Analytics

As explained by the project itself, the sharp rise in PYTH staking activity is in preparation for an upcoming crucial governance vote.

Additionally, there are speculations within the community about an upcoming airdrop for PYTH stakers.

PYTH is the token of the Pyth Network, a leading oracle project in the cryptocurrency market. Pyth conducted its first token airdrop in November 2023, attracting significant community attention.

Price fluctuations of PYTH in the past month. Source: CoinMarketCap (26/01/2024)