Foreign media reports indicate that PYTH has rebounded for the past two weeks, returning to market attention after a prolonged decline. The report suggests that the recent core upgrade to the protocol has improved its long-term revenue structure, while the recovery in derivatives market holdings has also drawn short-term investors back to the token.
Core upgrade introduces paid subscription
Pyth Network recently announced a Core Upgrade, one of the most notable changes to the protocol since its launch. The upgrade focuses on gradually shifting the oracle service, which previously relied heavily on subsidies, to a paid subscription model, charging applications that use the pricing data.
The report notes that this change not only increases recurring revenue streams but also improves data transmission efficiency, including lower latency, greater stability, and broader market coverage. The resulting revenue will go into the PYTH Reserve to enhance the protocol's long-term sustainability.
Price approaches $0.05 resistance.
From a business perspective, Pyth's price data primarily serves DeFi, perpetual contract platforms, and the tokenization of real-world assets. With the increasing demand for high-frequency price data, the market views this upgrade as a step towards solidifying its position as an oracle infrastructure.
Reports indicate that PYTH has surged nearly 20% in the past week, after finding support around $0.038 and rebounding from the lower edge of a long-term descending channel. Following the rebound, the token briefly rose to around $0.047 and is currently testing the middle resistance level of the channel.
- Resistance level 1: $0.05
- Resistance level two: $0.062 to $0.065
- Support level 1: $0.04
Open interest rises to high levels
In addition to the rebound in spot prices, data from the derivatives market is also seen as a sign of improved sentiment. Reports indicate that PYTH open interest has risen above $90 million, reaching a multi-month high, while the token price continues to climb.
This combination typically indicates the entry of new funds, rather than just a short-term rebound driven by short covering. Based on this, the article concludes that if buying can recover the $0.05 resistance level, PYTH's current recovery could continue.
However, the report also noted that the current area remains a region of active selling. Previous attempts to break through this level have triggered significant price pullbacks; therefore, the performance around $0.05 will determine whether this rally can transition from a rebound into a more definitive trend correction.
