PYTH has reached 112%. Sister Miao’s article drew everyone’s attention in mid-July. Has anyone followed it?
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The market has been supported entirely by news lately.
Yesterday, PYTH suddenly had a big green candle, directly breaking through all moving averages in seconds, and doubling in the short term. This wave of ambush has been waiting for more than 40%. But don't forget, this is the "policy dividend" brought by the official announcement of cooperation by the U.S. Department of Commerce, not a sudden reversal of fundamentals.
Let me take you through the data:
- #LINK is still the leader in the oracle market, with a market share of 45% and a TVS (total volume) of 24 billion.
- #PYTH has a 10% market share, while TVS only has 6 billion.
- FDV comparison: LINK 24 billion, PYTH 2.2 billion.
It seems that PYTH is indeed "undervalued", but the problem is that there is a 30% unlocking pressure next year, which everyone knows. So the probability of this wave is "buy a wave when the news comes, and then take the profit and leave."
Moreover, yesterday's rally was driven more by sentiment than fundamentals. Whether PYTH can recover in the long term depends on whether it can continue to seize market share from LINK.
Actually, PYTH’s story is not bad, but the short-term trend is clearly overbought.
Are you going for this wave?
My advice is not to rush in . Those who are now driven up by news are looking for buyers. Those who are already in the market should not be too greedy and should cash in early. If you want to take a gamble, you can wait until the market is relatively low before intervening.
The market moves in waves, and it’s easy to get lost if you go it alone.
If you want to seize the next wave of doubling opportunities, welcome to join my circle and watch the market, communicate, and buy the dips with a group of old friends! Together we can avoid detours and outperform the next bull market!
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