Coinbase has announced its plans to add support for Pyth Network (PYTH) on the Solana network, introducing PYTH as an SPL token on its platform. Users are advised to transfer PYTH exclusively over the Solana network to prevent potential loss of funds. Transfers for PYTH are now available on both Coinbase and Coinbase Exchange in regions where trading is supported.
Trading for PYTH is scheduled to commence on or after 9 AM PT on February 20, 2025, contingent upon meeting liquidity conditions. Once a sufficient supply of PYTH is established, trading on the PYTH-USD pair will launch in phases. It’s important to note that support for PYTH may be restricted in certain jurisdictions.
The Solana network contract address for Pyth Network (PYTH) is HZ1JovNiVvGrGNiiYvEozEVgZ58xaU3RKwX8eACQBCt3.
As of February 20, 2025, PYTH is trading at approximately $0.2063, with a market capitalization of $754.27 million and a circulating supply of 3.62 billion tokens.
Pyth Network is a decentralized oracle network designed to provide high-fidelity, real-time financial data to blockchain applications. It connects real-world data from institutional sources—such as trading firms, exchanges, and market makers—to smart contracts on various blockchains.
By aggregating and delivering timely, accurate price feeds, Pyth Network aims to enhance the reliability of decentralized finance (DeFi) protocols. The PYTH token is utilized for governance and incentivizing participants who contribute to and maintain data accuracy within the network.