Multiple PYTH token transfers have appeared on the blockchain, indicating a preparation phase prior to the airdrop.

According to Solscan data reported by BlockBeats on November 16th, the Pyth Network, a decentralized oracle project, conducted multiple on-chain transfers of its native token PYTH in the past 24 hours. These transfers included a test transfer of 1 PYTH, transfers in the millions of PYTH tokens, as well as minting and burning operations, possibly in preparation for an upcoming airdrop. The PYTH contract address is HZ1JovNiVvGrGNiiYvEozEVgZ58xaU3RKwX8eACQBCt3. This contract address has been added to the PYTH token pages on cryptocurrency data websites Coinmarketcap and CoinGecko. Earlier today, the Pyth Network announced an expansion of its airdrop coverage for DeFi participants. The airdrop was previously announced to distribute 200 million PYTH tokens. An additional 55 million PYTH tokens were added to the distribution for DeFi participants, bringing the total airdrop distribution to approximately 255 million PYTH tokens.