Experienced crypto analyst James has revealed that the native token of the Blockchain oracle network Pyth Network, which successfully launched its decentralized mainnet this week, could gain significant value. The analyst predicts that the price of this altcoin could increase by over 800%.
According to an analysis video by James, the host of the analysis program InvestAnswers, after modeling the future price of PYTH compared to its competitor Chainlink (LINK), PYTH has emerged as the winner for the altcoin. According to the analyst, when PYTH’s market share surpasses 20%, its price could increase by 188% compared to Chainlink’s current levels.
In a negative scenario, when PYTH’s market share reaches 20% of Chainlink’s in 2025, the price could rise to $1.48. If Chainlink’s market value reaches 30%, PYTH could rise to $2.78. If PYTH’s market value equals half of Chainlink’s and Chainlink reaches its target of $27-28 billion set for the Super Bowl, PYTH’s price could reach $10.74.
On average, PYTH could reach $5.04 by 2026. Therefore, I am optimistic about the significant growth potential of this altcoin.
At the time of writing, PYTH is trading at $0.514 and needs to show an approximate 880% increase to reach the price target set by InvestAnswers host. Chainlink’s current market value is around $8 billion, while Pyth Network’s market value is around $813 million.
The realization of PYTH’s price targets will depend entirely on Chainlink’s performance and how Pyth Network competes with it, as stated by the InvestAnswers host.
