Pyth Initiates Token Buyback Initiative Following Pyth Pro's Achievement of $1M Annual Recurring Revenue
New Buyback Program: Pyth Network has launched a recurring token buyback program, utilizing 33% of its DAO treasury each month to purchase PYTH tokens, with initial buybacks estimated between $100,000 and $200,000, linked to revenue growth from its data products.
Growth of Pyth Pro: The Pyth Pro data product has quickly gained traction, achieving over $1 million in annual recurring revenue and targeting $50 million ARR within the next 12-18 months, as demand for real-time market data increases.
Diverse User Base: Pyth's data feeds are utilized by various entities, including centralized and decentralized exchanges, trading firms, and market makers, indicating a growing demand for its services across both Web3 and traditional financial markets.
Trend in Crypto Buybacks: Pyth's buyback initiative reflects a broader trend in the crypto sector, where protocols are increasingly linking token buybacks to revenue, enhancing the economic relationship between protocol growth and token demand.
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Technical Analysis for TOKEN
Technical Sentiment Analysis for TokenFi (TOKEN) As of , TokenFi (TOKEN) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TOKEN stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, TOKEN is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
TokenFi (TOKEN) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000698 | 0.00175 | 0.00258 | 0.00364 | 0.00446 | 0.00552 | 0.00634 |
| Fibonacci | 0.00175 | 0.00247 | 0.00292 | 0.00364 | 0.00435 | 0.0048 | 0.00552 |
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