Pricing oracle network Pyth’s token debuted at a market cap of $468 million on Monday after issuing an airdrop for 90,000 wallets.
The token is trading around $0.32 after rising as high as $0.51, according to CoinMarketCap.
Those eligible for the airdrop have 90 days to claim their PYTH tokens, which will be used for on-chain governance votes.
The token initially has a circulating supply of 1.5 billion, with the remaining 85% of the total supply being locked for between six and 42 months. Two hundred fifty-five million tokens were allocated for the airdrop.
The Pyth Network currently has $1.5