Pyth Network’s price has experienced a significant downturn, dropping over 66% from its all-time high. Technical analysis suggests further decline is likely. As of May 21st (Asian time), the token traded at around $0.124, down approximately 3% in the past 24 hours – marking a near record low since April 11th. The recent drop follows a scheduled token unlock on May 20th, which released approximately 2.13 billion PYTH tokens into circulation, valued at $275.1 million. 58.7% of the circulating supply was unlocked to early investors, contributors, and ecosystem participants as part of Pyth’s annual vesting cycle. This unlock resulted in a surge of circulating supply to nearly 5.75 billion PYTH tokens, around 57.5% of its maximum supply capped at 10 billion. The final two unlocks are scheduled for May 2026 and May 2027.