Pyth Network Challenges Bloomberg’s $50B Empire with 24/7 Indices

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Pyth Network Targets Bloomberg’s $50 Billion Market-<a href="https://xypy.ru/data">Data</a> Empire

Pyth Network is expanding into the financial data market, which is worth over $50 billion. They’re introducing continuous, 24/7 price indexes for metals, oil, and U.S. stocks, aiming to compete with established providers like Bloomberg by offering on-chain price information.

  • Key Takeaways:

  • Pyth Network launched 24/7 indices for metals, oil, and U.S. equities, adopted by Coinbase and Kraken.
  • Euronext, Fidelity, and Tradeweb now publish data via Pyth, challenging Bloomberg’s hold on a $50 billion market.
  • Pyth Pro passed $1 million in annual recurring revenue, but converting institutions to paying clients remains the test.

A $50 Billion Target

The decentralized oracle network, software that delivers real-world prices onto blockchains, unveiled the new 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.

Image source: X

Pyth has already been adopted by platforms like Coinbase, Kraken, Dydx, and Nado. Its products aim to provide constantly updated price information for assets that traditionally only traded during specific times of the day. According to Mike Cahill, CEO of Douro Labs – a major contributor to Pyth –

Pyth Networks is changing how markets work by enabling 24/7 trading, meaning there’s no longer a traditional ‘market close’.

The launch is the latest step in what analysts have called Pyth’s $50 billion institutional pivot, a strategy to move beyond supplying free price feeds to crypto apps and start selling data to banks, brokers, and trading firms (a business long dominated by terminal providers such as Bloomberg and Refinitiv).

Challenging the Terminal

Pyth’s pitch is that market data should be published onchain, openly and in real time, rather than locked behind expensive proprietary terminals. To make that case, the network has begun recruiting the institutions that generate the data themselves. In this regard, six financial institutions (including Euronext, Fidelity, and Tradeweb) have already started publishing market data on the blockchain via Pyth, directly challenging Bloomberg’s grip on the sector.

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.

As part of my research, I’ve been expanding the scope of our data network to include areas like policy analysis and broader market trading strategies. This now includes real-time price information for major U.S. ETFs, the largest companies listed in the UK, stocks from Hong Kong and China, and key U.S. economic indicators. Essentially, we’re aiming for a more comprehensive view of the financial landscape.

Experts agree these new indices reflect a growing trend. Boris Ilyevsky, from Coinbase, noted that markets are increasingly operating 24/7 to meet the needs of institutional investors. John Palmer of Kraken added that the indices provide a consistent point of reference for assets that aren’t traded all day and night.

Revenue and the PYTH Token

For PYTH, the network’s native token, the institutional push is the central investment thesis. To elaborate, Pyth has launched a subscription product, Pyth Pro, that it says quickly surpassed $1 million in annual recurring revenue, and a version aimed at autonomous AI agents that 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. In any case, the direction of travel is clear, i.e. 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.

Pyth’s biggest challenge now is proving that organizations using its data and benchmarks will actually pay to continue doing so long-term.

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2026-06-14 07:57