Pyth Network Launches 24/7 Indices, Challenges Bloomberg's $50 Billion Market

According to Bitcoin.com News, Pyth Network unveiled 24/7 proprietary indices for metals, oil, and U.S. equities earlier this week, with early adopters including Coinbase, Kraken, Dydx, and Nado. The new products provide continuous reference prices for assets that historically traded only during market hours.

In a parallel move, six financial institutions—including Euronext, Fidelity, and Tradeweb—began publishing market data directly onto the blockchain via Pyth's Data Marketplace, directly challenging Bloomberg's hold on the market-data sector. Pyth Pro, the network's subscription product, has surpassed $1 million in annual recurring revenue.