While much of the cryptocurrency market shows strength, Pyth Network’s native token, PYTH, faced significant turbulence, dropping over 8 percent in the last 24 hours. The price declined from a daily peak of $0.1441 to $0.1321, marking an approximate 8.33 percent drop.

This downturn comes as investors prepare for an impending token unlock event totaling $280 million. Such events can often introduce volatility into the market. Traders will need to assess their positions as the situation develops.

The future movements of PYTH will be closely monitored, especially in light of market dynamics surrounding token unlocks and investor sentiment.