Pyth Network launches price indices for US stocks, oil and metals 24/7 » The Merkle News


Beth Network It has just solved one of the most pressing structural problems in cryptocurrency derivatives markets, and it has done so with partners with significant institutional heft.

Oracle Network has launched Pyth Indicators, a set of private price indicators running 24/7 covering US stocks, oil, gold, silver, thematic baskets, and products that have not yet been announced. They already exist and support real trading via Coinbase, Kraken, dYdX, and Nado. PYTH price rose 5% on the news.

Pyth pointers were created to solve them

The Pyth network laid out the basic thesis with extraordinary clarity. Traditional markets are closed overnight and on weekends. Cryptocurrency markets never do that.

This gap has been one of the most critical structural mismatches in the industry for years: perpetual exchanges, prediction markets, and token stock platforms operate around the clock, but the price infrastructure they need to reference has been consistently underdeveloped. When US stock markets close on Friday afternoon and don’t reopen until Monday morning, what price does the cryptocurrency derivatives platform use to settle Tesla at 3am on Saturday?

So far, the answer has been a patchwork of imperfect solutions. Pyth Indicators bridges this gap through continuous pricing sourced from institutional publishers and the most liquid venues, which operates 24 hours a day, seven days a week. The trading was already there. It was not a reliable price reference. This is no longer the case.

What is real and what each index covers

The launch covers a wide range of traditional asset classes. On the commodities side, WTI and Brent crude oil remain active. Metal coverage includes gold and silver. The list of US stocks includes some of the most widely traded names in the cryptocurrency derivatives markets, such as Nvidia, Tesla, Apple, Microsoft, Alphabet, Intel, Robinhood, MicroStrategy, and Circle. Each of these holds significant interest from native cryptocurrency traders who want exposure to technology and AI stories without leaving the on-chain environment.

In addition to individual asset indices, Pyth has also launched thematic basket indices developed in partnership with MarketVector: AI10, Defense10, China10, and Tech100. These baskets give platforms exposure to curated macro themes rather than individual stocks, a useful expansion of the product for derivatives venues trying to attract traders considering sector rotations rather than single-name bets. Each index has a published methodology that is available for licensing, giving any platform in the ecosystem a path to building products on top of the infrastructure.

MarketVector brings $100 billion worth of index tracking credibility

The partnership behind the thematic baskets is no small detail. MarketVector Indexes is a subsidiary of VanEck and has over $100 billion tracking its indexes globally. VanEck is also the issuer of a Bitcoin ETF, meaning this is not a traditional fund company that has stumbled into the cryptocurrency space, but rather one that is intentionally building its presence in the space while maintaining the standards of institutional methodology required by regulated markets.

Co-developing thematic basket indicators with MarketVector gives Pyth indicators a layer of credibility that native crypto indicator products cannot easily replicate. When an exchange needs to say to institutional clients or regulators that its pricing methodology is robust and can be independently verified, a reference to co-development with a company with $100 billion in tracked assets carries weight. This lineage is important because the line between cryptocurrency derivatives markets and traditional financial infrastructure is still blurry.

Coinbase, Kraken, dYdX, and Nado will launch on day one

Launch partners are not placeholders, they actually use the indexes to launch live products. Coinbase co-developed thematic stock index futures with MarketVector, built on Pyth’s continuous pricing infrastructure. Kraken performs continuous pricing across its derivatives products using the same feed. dYdX has launched a live price perpetual contract on the Pyth 24/7 Oil Index. Nado, which is working to create a unified market, margin market and unified market within a single portfolio margin account, is bringing continuous oil pricing to its platform using Pyth Indices as the underlying data layer.

The Nadeau team has been upfront about what this means for their roadmap, as this integration brings them one step closer to the ultimate place of total exposure, with every major asset class traded around the clock within a single portfolio margin account. This vision of a unified derivatives venue covering cryptocurrencies, stocks, commodities and metals without traditional market hour fragmentation is exactly what Pyth Indices makes technically possible. Nadeau builds the product layer; Pyth provides the price infrastructure underneath.

What this means for PYTH and the broader Oracle landscape

The 5% price action in PYTH today reflects the immediate market reading at launch, and this is a useful product expansion that expands Pyth’s addressable market beyond its current cryptocurrency price feed business. Traditional asset derivatives on cryptocurrency platforms represent a growing segment of trading volume, and exchanges serving this demand now have a reliable and continuously available pricing solution that did not exist at this level before today.

The broader impact on the Oracle landscape is significant. Chainlink has long dominated the oracle narrative in the cryptocurrency space, but Pyth has built a real alternative with its cloud-based architecture and institutional publisher model. Expanding to 24/7 indexing of traditional assets with MarketVector as a joint development partner and Coinbase, Kraken, dYdX, and Nado as launch partners on day one is a statement of intent that goes beyond a simple product update. It’s Pyth positioning itself as the pricing infrastructure layer of the future where the boundaries between cryptocurrencies and traditional finance continue to dissolve and where exchanges operating in this space need pricing that never sleeps.

Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any services.

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