ChainCatcher news, Pyth Network announced on social media that it has distributed 768,000 PYTH staking rewards to stakers to support the protection of DeFi through Oracle Integrity Staking.

ChainCatcher news, according to Dune data, there are currently 1,059,976,343 PYTH staked, worth approximately 667 million USD, with a total of 176,500 staking addresses.

ChainCatcher news, the number of wallets staking Pyth tokens has surpassed 110,000, showing exponential growth over the past few weeks. The recent surge in Pyth staking may also be attributed to expectations regarding potential airdrops for Pyth stakers.It is reported that Pyth is a decentralized oracle network specifically designed to provide real-time, off-chain market data for blockchain applications.

ChainCatcher message, the encrypted exchange Backpack stated on platform X: "We have decided to reward every participant who meets the PYTH staking requirements. Traders will receive additional rewards proportional to their trading volume. Withdrawals of PYTH will be suspended until the Backpack market goes live. A snapshot has been taken, and subsequent trades will not alter the results. Staking can be canceled once PYTH goes live."