Pyth Network launched 24/7 indices for metals, oil, and U.S. equities earlier in the week, with early adoption confirmed by Coinbase, Kraken, Dydx, and Nado. The decentralized oracle network also announced that six financial institutions, including Euronext, Fidelity, and Tradeweb, have started publishing market data via Pyth, alongside seven new institutional data publishers joining through the newly launched Pyth Data Marketplace. The moves position Pyth to compete in the institutional market-data sector, which analysts have characterized as a $50 billion market long dominated by terminal providers such as Bloomberg and Refinitiv. Mike Cahill, chief executive of Douro Labs, a key contributor to Pyth, stated that the indices "mark an inflection point in access to 24/7 markets, where market close no longer means the end of trading."
Pyth Network Launches 24/7 Indices for Metals, Oil, and Equities
The decentralized oracle network unveiled proprietary indices earlier in the week. The lineup spans U.S. equity baskets, gold and silver, and WTI and Brent crude oil, alongside Coinbase-specific equity index futures built with index provider Marketvector. Early adopters include Coinbase, Kraken, Dydx, and Nado, with the products designed to give continuous reference prices for assets that historically traded only during set market hours.
Boris Ilyevsky, head of derivatives at Coinbase, stated that "institutional-grade, 24/7 markets are becoming the standard." John Palmer, Kraken's global head of derivatives, said the indices "give us a continuous benchmark for assets where the underlying market doesn't trade round the clock."
Six Institutions Publish Data Via Pyth Network
Pyth's strategy is to move beyond supplying free price feeds to crypto apps and start selling data to banks, brokers, and trading firms. The network's pitch is that market data should be published onchain, openly and in real time, rather than locked behind expensive proprietary terminals. Six financial institutions, including Euronext, Fidelity, and Tradeweb, have started publishing market data on the blockchain via Pyth.
In a separate expansion, Pyth announced seven new institutional data publishers as it launched the Pyth Data Marketplace, a distribution engine that lets institutions publish and monetize unique datasets across blockchains and applications. The network has widened its coverage into areas that touch policy and macro trading, adding price feeds for major U.S. exchange-traded funds, the United Kingdom's top 100 public companies, Hong Kong and Chinese equities, and U.S. government economic data.
Pyth Pro Surpasses $1 Million in Annual Recurring Revenue
Pyth has launched a subscription product, Pyth Pro, that quickly surpassed $1 million in annual recurring revenue. A version aimed at autonomous AI agents delivers more than 3,000 institutional price feeds through a single integration. The company has signaled that revenue from offchain, institutional data is where it expects future monetization to come from.
For PYTH, the network's native token, the institutional push is the central investment thesis. The direction of travel is clear: crypto infrastructure firms are increasingly aiming at traditional finance rather than just serving onchain apps, and Pyth's expansion mirrors moves by exchanges like Coinbase to bring round-the-clock, real-world-asset markets into the regulated mainstream.
FAQ
What did Pyth Network launch earlier in the week?
Pyth Network launched 24/7 indices for metals, oil, and U.S. equities earlier in the week. The lineup spans U.S. equity baskets, gold and silver, and WTI and Brent crude oil, alongside Coinbase-specific equity index futures built with index provider Marketvector.
Which institutions are publishing data via Pyth Network?
Six financial institutions, including Euronext, Fidelity, and Tradeweb, have started publishing market data via Pyth. Additionally, seven new institutional data publishers joined through the newly launched Pyth Data Marketplace.
How much annual recurring revenue has Pyth Pro generated?
Pyth Pro, the network's subscription product, quickly surpassed $1 million in annual recurring revenue. A version aimed at autonomous AI agents delivers more than 3,000 institutional price feeds through a single integration.
