A widely followed crypto trader says one decentralized oracle service project may one day overtake its rival Chainlink (LINK).
In a new video update, Guy Turner, the host of CoinBureau, tells his 2.57 million YouTube subscribers that the market cap for Pyth Network (PYTH) may eventually soar due to its potential to generate massive fee revenue.
“In my opinion, Pyth Network is one of the most underrated cryptos there is. That’s because it’s an oracle that provides high-frequency data feeds that blockchains like Solana depend on. In other words, Pyth Network is like Chainlink, and some would argue that it’s better than Chainlink.
That’s because Pyth Network technically has its own blockchain called Pyth Net, which could theoretically leverage the PYTH token for fees someday.
This could make PYTH bigger than LINK, which is already pretty darn big. For the time being, though, PYTH continues to fly under the radar, which is good news for those looking to get in early, but bad news for those who have already been accumulating for a while.”
PYTH is trading for $0.49 at time of writing, up 7% in the last 24 hours. With a market cap of $1.79 billion, PYTH is the 83rd largest crypto project.
Meanwhile, LINK is trading for $29.08 at time of writing, up slightly on the day. With a market cap of $18.21 billion, LINK is the 13th largest crypto project.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Follow us on X, Facebook and Telegram
Generated Image: Midjourney
Read the full article here