According to a well-known crypto trader, there is a possibility that Pyth Network (PYTH), a decentralized oracle service project, could surpass its competitor Chainlink (LINK) in the future.
In a recent video update on CoinBureau, Guy Turner, with a substantial following of 2.57 million YouTube subscribers, highlighted the potential growth of Pyth Network due to its ability to generate significant fee revenue.
“I believe that Pyth Network is undervalued in the crypto space. It serves as an oracle that delivers high-frequency data feeds crucial for blockchains like Solana. Essentially, Pyth Network can be compared to Chainlink, with some arguing that it may even outperform it.”
“One key advantage of Pyth Network is its own blockchain, Pyth Net, which could potentially utilize the PYTH token for fees in the future. This could propel PYTH ahead of LINK, which is already a prominent player. Currently, PYTH remains relatively unnoticed, presenting an opportunity for early investors but a challenge for those who have been accumulating for a while.”
As of now, PYTH is priced at $0.49, marking a 7% increase in the past 24 hours. With a market cap of $1.79 billion, PYTH holds the 83rd position among crypto projects.
On the other hand, LINK is trading at $29.08, showing a slight uptrend. With a market cap of $18.21 billion, LINK ranks as the 13th largest cryptocurrency project.
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