Pyth Network (PYTH)
Cross-chain oracle with 500+ price feeds used by $100B+ DeFi TVL; but only 34.5% circulating and token value accrual to PYTH minimal.
Ranked 106th of 251 rated tokens. Scoring pass 11 Jun 2026.
What the numbers say
PYTH scores 107 of 250 across the 25-variable framework, which places it 106th of 251 rated tokens and inside the upper half of the set. The framework verdict is WATCH.
The score rests on Regulatory Safety 7/10, 17th of 251, TVL Trend 5/10, 30th of 251, Network Growth 6/10, 32nd of 251 and Developer Activity 6/10, 33rd of 251.
Against the same universe, PYTH sits in the bottom third on Supply Inflation 2/10, 228th of 251, Vesting Schedule 2/10, 223rd of 251, Circulating / FDV Ratio 4/10, 203rd of 251 and Insider Selling 3/10, 201st of 251. These are the variables that would have to move for the verdict to change.
Only 78.7% of PYTH's maximum supply is in circulation, so 1.27x the current float is still scheduled to arrive. Holding price per token flat while the rest enters circulation implies 21.3% of the fully diluted value sitting ahead of today's holders. That is a real but manageable overhang.
PYTH trades 96.7% below its all-time high of $1.20. Recovering that level is a 30.3x move, not a 96.7% one, which is the arithmetic most drawdown charts hide.
The framework score gained 20 points against the previous pass (87 to 107). Revisions of this size follow a change in the underlying variables, not a change in price.
25-variable breakdown
Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.
Cash flow
| Protocol Revenue | 3 | 98th of 251 | |
| Revenue Trend | 3 | 117th of 251 | |
| P/S Multiple | 3 | 182nd of 251 | |
| Real Staking Yield | 4 | 82nd of 251 |
Supply
| Supply Inflation | 2 | 228th of 251 | |
| Vesting Schedule | 2 | 223rd of 251 | |
| Circulating / FDV Ratio | 4 | 203rd of 251 | |
| Buyback and Burn | 2 | 114th of 251 |
Ownership
| Smart Money Flows | 5 | 48th of 251 | |
| Insider Selling | 3 | 201st of 251 | |
| Holder Concentration | 3 | 197th of 251 |
Traction
| TVL Trend | 5 | 30th of 251 | |
| Active Users | 5 | 38th of 251 | |
| Developer Activity | 6 | 33rd of 251 | |
| Network Growth | 6 | 32nd of 251 |
Position
| Market Share | 6 | 36th of 251 | |
| Competitive Moat | 5 | 57th of 251 | |
| Institutional Adoption | 5 | 36th of 251 | |
| Exchange Depth | 5 | 73rd of 251 | |
| Social Mindshare | 4 | 86th of 251 |
Risk
| Regulatory Safety | 7 | 17th of 251 | |
| Catalyst Calendar | 4 | 90th of 251 | |
| BTC Alpha Potential | 4 | 45th of 251 | |
| Team Execution | 5 | 74th of 251 | |
| Treasury Runway | 6 | 33rd of 251 |
The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.
Catalyst and risk
Next catalyst
PYTH used as fee token for Pyth Entropy; expansion into real-world asset price feeds
Principal risk
Only 34.5% circulating; Pyth Foundation holds enormous released reserves; oracle services mostly free creating no PYTH demand; Chainlink still dominant
Market and supply
| Price | $0.0391 |
| Market cap | $307.7Mrank 124 |
| All-time high | $1.2016 Mar 2024 |
| Circulating supply | 7,874,981,591 |
| Eventual supply (max supply) | 10,000,000,000 |
| Dilution to full supply | 1.27x |
| Listed on | Binance, OKX, Bybit, Kraken |
Price, market cap, supply and all-time high from CoinGecko, fetched 6 Aug 2026. The 25 scores come from the research pass dated 11 Jun 2026 and don't move with price.
Tokens with a similar profile
These are the closest matches to PYTH measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.
Sources
- [Pyth Network Docs] Pyth Network provides 500+ price feeds across 50+ blockchains with real-time pull oracle model
- [CoinGecko] PYTH token circulating supply is ~34.5% of total 10B with large foundation and publisher reserves opening
- [CoinMarketCap] PYTH ATH $1.11 reached January 2024 shortly after TGE airdrop
Common questions
- What is the Early Thunder score for Pyth Network (PYTH)?
- PYTH scores 107 out of 250 on the 25-variable framework, ranking 106th of 251 rated tokens (upper half). The framework verdict is WATCH.
- What are PYTH's strongest fundamentals?
- PYTH ranks highest on Regulatory Safety 7/10, 17th of 251, TVL Trend 5/10, 30th of 251, Network Growth 6/10, 32nd of 251 and Developer Activity 6/10, 33rd of 251. Ranks are measured against all 251 tokens in the same scoring pass.
- What are the weakest parts of the PYTH thesis?
- PYTH scores in the bottom third of the universe on Supply Inflation 2/10, 228th of 251, Vesting Schedule 2/10, 223rd of 251, Circulating / FDV Ratio 4/10, 203rd of 251 and Insider Selling 3/10, 201st of 251. The single risk carried on the scorecard is: Only 34.5% circulating; Pyth Foundation holds enormous released reserves; oracle services mostly free creating no PYTH demand; Chainlink still dominant
- How much PYTH supply is still to enter circulation?
- 78.7% of eventual PYTH supply is circulating today, leaving 1.27x the current float still to arrive. At a flat price per token that is 21.3% of fully diluted value ahead of current holders.
- How far is PYTH from its all-time high?
- PYTH trades 96.7% below its all-time high of $1.20. Returning to that high requires a 30.3x move from the level used in this scoring pass.
- Which tokens have a similar profile to PYTH?
- Measured on the shape of all 25 scored variables rather than on price, the closest matches to PYTH are W (92), EIGEN (107), POL (123) and SSV (106). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
- What is the next catalyst for PYTH?
- PYTH used as fee token for Pyth Entropy; expansion into real-world asset price feeds
Keep reading
Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.