- The introduction of Pyth Network’s SAFE/USD price feed expands access to SafeCoin across 55 blockchains.
- Pyth Network, Sui, and Sei experience price declines, while Sui and Sei also show neutral to bearish trends.
- Sei announces the launch of the first parallel Ethereum Virtual Machine (EVM) blockchain, Phase 2 (Alpha Launch).
Discover the latest developments in the crypto world with Pyth Network’s new SAFE/USD price feed, market trends for Sui and Sei, and the groundbreaking launch of Sei’s parallel EVM blockchain.
Pyth Network Launches SAFE/USD Price Feed
Pyth Network, a decentralized financial data provider, has launched its price feed for the SAFE/USD pair. This move aims to enhance the accessibility of real-time price data for SafeCoin (SAFE), the governance token of Safe, an open-source account abstraction stack. The Pyth Network’s SAFE/USD price feed is now accessible across more than 55 blockchains, offering a broader user base access to reliable price information.
Current Market Performance of Pyth Network
The current price of Pyth Network stands at $0.436728, with a 24-hour trading volume of $138,724,092. Despite a 0.60% decline in the last 24 hours, Pyth Network maintains a market cap of $1,583,133,561, supported by a circulating supply of 3,624,988,973 PYTH coins.
The Relative Strength Index (RSI) for PYTH on the daily price chart is 42.04, suggesting a potential consolidation or trend reversal. Traders should await confirmation from other technical indicators before making trading decisions.
Additionally, the Moving Average Convergence Divergence (MACD) indicator for PYTH on the daily price chart is -0.0293, signaling a bearish trend. Traders are advised to await a bullish crossover before considering long positions.
Market Trends for Sui
Meanwhile, Sui, another digital asset, is priced at $1.04 and has a 24-hour trading volume of $170,975,661. Its market cap is $2,422,443,090, supported by a circulating supply of 2,339,196,966 SUI coins and a max supply of 10,000,000,000 SUI coins.
However, the RSI for SUI is 44.01, indicating a neutral market state, while the MACD is -0.0277, suggesting a bearish trend. Traders should exercise caution and wait for potential buying or selling opportunities based on RSI fluctuations.
Sei’s Parallel EVM Blockchain Launch
Sei has announced the launch of the first parallel Ethereum Virtual Machine (EVM) blockchain, Phase 2 (Alpha Launch). This development is expected to significantly enhance the scalability and interoperability of blockchain applications, providing a robust platform for developers and users alike.
Conclusion
The recent developments in the crypto market, including the launch of Pyth Network’s SAFE/USD price feed and Sei’s parallel EVM blockchain, highlight the ongoing innovation and evolution within the industry. Traders and investors should stay informed about these changes and consider the technical indicators before making any trading decisions. The market trends for Pyth Network and Sui suggest cautious optimism, with potential opportunities for those who closely monitor the indicators.
