PYTH Price Drops Amid Ongoing Unlock Selling Pressure

The price of Pyth Network (PYTH) dropped by 3.6% in the last 19 hours, a move attributed to a mildly risk-off macro session and ongoing selling pressure from prior large token unlocks.

This is not due to any new specific event or catalyst, but rather normal volatility in a market where mid-cap alts like PYTH are sensitive to broader crypto sentiment.

The unlock schedule created by Pyth's tokenomics has left an overhang of circulating supply and selling pressure from insiders and ecosystem recipients who received tokens in the past.

A Japanese trader commented that 'unlock selling pressure is tremendous,' describing a pattern of lower wicks followed by renewed selling pressure, which treats shorting bounces as 'easy work.'