A widely followed crypto trader says a decentralized Oracle service project could one day overtake rival Chainlink (LINK).
In a new video update, CoinBureau host Guy Turner tells his 2.57 million YouTube subscribers that the market cap of Pyth Network (PYTH) could eventually skyrocket due to its potential to generate huge fee income.
“In my opinion, Pyth Network is one of the most underrated cryptos out there. In effect, it is an oracle that provides high-frequency data feeds on which blockchains like Solana depend. In other words, Pyth Network is like Chainlink, and some would say it is better than Chainlink.
Indeed, Pyth Network technically has its own blockchain called Pyth Net, which could theoretically mine the PYTH token for a fee one day.
This could make PYTH bigger than LINK, which is already pretty darn big. For now, however, PYTH continues to fly under the radar, which is good news for those looking to get in early, but bad news for those who have already been accumulating for a while.
PYTH is trading at $0.49 at the time of writing, up 7% in the last 24 hours. With a market capitalization of $1.79 billion, PYTH is the 83rd largest crypto project.
Meanwhile, LINK is trading at $29.08 at the time of writing, up slightly on the day. With a market capitalization of $18.21 billion, LINK is the 13th largest crypto project.
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