Pyth Network Price Surges 3% Following Revenue Update

The price of Pyth Network (PYTH) rose by 3.01% following an update on its July revenue and DAO distributions.

Douro Labs reported that Pyth Pro generated about $562,000 in revenue for July and distributed 7.66 million PYTH tokens to the DAO.

This development is significant because it confirms recurring revenue and shows a clear split of value between the DAO and the core team, which are key aspects of PYTH's evaluation as a 'cash-flow plus governance' asset over the long run.

While this update may have contributed to the price increase, other factors such as normal volatility in the altcoin market also played a role.