State of the Pyth Network Report Q1 2024: Demand-Side Activity Grows 97%, Total Value Grows 322%

According to Wu Shuo, Messari released the Pyth network status report for the first quarter of 2024. Reports show demand-side activity grew by 97%, with 48 billion pulloracle updates released for Python. The total value received by Pyth, including Ethena, increased 322% sequentially to $7.2 billion. Meanwhile, Pyth added seven new data providers, bringing its publisher network to 100 data providers in the first quarter. PYTH's staking volume increased by 92% month-on-month. This increase, combined with the 206% increase in PYTH price, resulted in a 489% increase in the value of PYTH in U.S. dollars, from $215 million to $1.3 billion. In addition, Pyth DAO launched operations in the first quarter, approved the DAO Charter, established the Pythian and Price Feedback Committee, and began executing the Pyth Operations Improvement Proposal (PIP).