- The financial data sector is heavily dominated by a few major vendors, often resulting in high costs for institutional clients.
- Pyth Network offers real-time pricing data for various asset classes through its high-speed blockchain oracle system.
- Pyth uses a “pull” data model, enabling customers to pay for information on demand, which helps reduce overall expenses.
- Throughout 2024, the Pyth network grew its total value secured (TVS) 46 times and now holds about 11.3% market share among blockchain oracle providers.
- Pyth began providing real-time oil price data on over 80 blockchain networks, expanding the available data for digital trading platforms.
Pyth Network, a blockchain-based oracle provider developed by Douro Labs, is making changes in the $50 billion financial data industry, according to executive Michael James. The network supplies real-time price feeds for markets including cryptocurrencies, stocks, foreign exchange, and commodities.
Speaking at Consensus 2025, James described how Pyth’s data pull model allows customers such as exchanges and brokerages to purchase data only when needed. This system aims to lower costs for institutions that depend on live market data.
James said the traditional market is controlled by about eight major vendors that decide prices for financial data, which clients—such as banks and hedge funds—must purchase to meet compliance rules. He explained, “These data vendors have no competition in traditional finance, and so they have all the pricing power in the world. There is no substitutability; whether you are a banker or hedge fund and you are trading more or less—you still have to buy that data for compliance reasons.”
High data costs often prevent smaller businesses from entering the financial sector, keeping the market concentrated among big firms and limiting the development of new solutions. Pyth’s model tries to address this barrier to entry.
In December 2024, Pyth Network launched real-time oil pricing for assets like West Texas Intermediate and Brent Crude Oil, making this information available across more than 80 blockchain networks. This step offers more transparency for energy trading and derivatives on decentralized platforms.
Throughout 2024, Pyth increased its total value secured—a measure of the capital supported by the oracle network—by 46 times. According to DeFiLlama, Pyth’s current market share in the blockchain oracle sector is roughly 11.3%, up from 10.8% reported in September.
Further technical details about differences between pull and push oracle models are available at the Pyth Network documentation. A breakdown of oracle sector market share is published by DeFiLlama.
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