A widely followed crypto analyst expresses bullish sentiment on the native token of a blockchain oracle network that launched its permissionless mainnet earlier this week.
In a new video the anonymous host of the InvestAnswers channel tells According to his 453,000 YouTube subscribers, he is bullish on Pyth Network (PYTH) after modeling PYTH’s future price based on Pyth Network’s market cap share versus its competitor Chainlink (LINK).
According to the analyst, PYTH could rise 188% from current levels as PYTH’s market share against Chainlink grows above 20%.
“The bear case is $1.48 in 2025 [when PYTH’s market cap share relative to Chainlink’s is 20%]. If it goes to 30% of Chainlink’s market cap, it could go to $2.78. If it goes to half of Chainlink’s market cap, it could go to $5.16…if PYTH reaches Chainlink’s market cap, which is technically feasible, and Chainlink hits its Super Bowl target of $27-$28 billion, PYTH’s price could be $10.74.
Or you could take an average of all these factors, and by the year 2026, PYTH could reach $5.04. That’s why I’m optimistic.”
PYTH is trading at $0.514 at the time of writing and would need to rise around 880% to reach the InvestAnswers host price target. Chainlink’s market cap is currently just under $8 billion, while Pyth Network’s is almost $813 million.
According to the InvestAnswers host, whether or not PYTH achieves its price targets will depend on how Chainlink performs and how Pyth competes.
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