MOTHER spikes 37% as Pyth Network adds price feed support

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As a seasoned researcher with a penchant for blockchain technology and a soft spot for pop culture, I find the recent developments surrounding Mother Iggy (MOTHER) quite intriguing. The integration of MOTHER into Pyth Network’s price feed system is a testament to the growing influence of meme coins in the crypto space.

On the Oracle platform, Pyth Network has recently been added, providing real-time pricing data for over 75 different blockchain networks, affectionately referred to as “Mother Iggy.

On September 26th, Pyth Network (PYTH) declared that they would be providing support for the meme coin, Mother Iggy (MOTHER). This decision followed calls from the community, who requested it enthusiastically. Notably, MOTHER is a cryptocurrency associated with Australian rapper and songwriter Iggy Azalea, who introduced it on the Solana blockchain.

According to Pyth, support for the meme coin is via the MOTHER/USD price feed.

Initially, Drift Protocol on the Solana network, Save (previously known as Solend), and Flash.Trade – an asset-backed trading platform – were among the initial systems to incorporate this feed.

Beyond Mother Iggy, Pyth Network has also announced its backing for the SEI-based decentralized exchange, DragonSwap. The platform intends to utilize Pyth’s price feeds to operate its Prediction Product, providing real-time pricing information to users. This ensures that the predictions market delivers accurate results.

MOTHER’s price rises

The meme coin recovers and regains a market value of $100 million, as it connects with the decentralized finance platform’s pricing system. Iggy Azalea has been actively promoting this project, stating that it is not just another celebrity-backed “meme” token but something more substantial.

Lately, MOTHER has garnered interest due to its upcoming crypto-based casino named ‘Motherland’. Azalea presented this platform, slated to debut in November, at the Solana Breakpoint event in Singapore. The MOTHER token will facilitate all transactions within the casino.

After the announcement from Pyth, MOTHER‘s price surged significantly, increasing over 37% within the last 24 hours. This rise was more pronounced than other popular meme coins. In the top 500 cryptocurrencies ranked by market capitalization, Moodeng, Maga, and Daddy Tate were among those that saw the most significant gains in this period.

Currently, when this text was penned down, the market value of Mother Iggy was approximately $133 million. Notably, the daily trading volume surged by a substantial 50% at that point.

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2024-09-26 17:32