Pyth Network's PYTH token jumped about 7% to trade near $0.086, touching a high near $0.088, as buyers chased a breakout while most large coins stayed weak. Trading volume rose above $120 million, and PYTH sat among the day's top gainers in the top 100, extending a strong run that started last week.
The rally follows the Pyth DAO's new 100% Rule, passed as proposal OP-PIP-136 on October 8. Under the rule, all revenue the DAO receives from Pyth products now goes into monthly open-market purchases of PYTH for its reserve, replacing the old system that capped buying at one-third of its non-PYTH balance and needed a fresh vote each month. The reserve already holds roughly 42 million PYTH after the first purchases on September 30.
Business growth is backing the story. Pyth reported recurring revenue up about 86% in the third quarter to around $11.5 million, with about 276 paying accounts. Most of that came from Pyth Pro, with Pyth Indices adding the rest. Pyth also joined Nasdaq and Cboe on stage at the World Financial Information Conference in Copenhagen this week, a sign its price-feed business is winning attention from traditional market-data firms.
PYTH had already gained about 15% on Monday, leading the top 100 that day. Technically, traders are watching resistance near $0.090 first, then around $0.108 if that level breaks with a strong close. On the downside, support sits near $0.076, with a deeper line near $0.067 — losing that area would weaken the breakout.
For traders, the appeal is simple: growing revenue now creates regular buying, instead of a one-off announcement. But the buybacks are still small compared with daily trading volume, and the token remains far below its all-time high, so sharp pullbacks are possible after such a fast climb. Holding above $0.076 keeps the short-term trend positive.
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: CoinEdition, CoinGecko, CryptoCompass, CoinDCX
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