Financial Digest

Pyth leads perps trading on Solana, Sui, but $600B trading volume will 10x

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 51%

Finance Finance Headlines News

The oracle solution could witness another 10x increase in trading volume, due to organic, 'market-generated' growth.

Pyth’s leading role in futures perps can be attributed to the oracle solution’s permissionless and easy implementation model, according to Marc Tillement, the director of the Pyth Data Association.“The best is that our catalog of over 500 price feeds is available everywhere. So you launch on a new chain on day one and you can have over 100 crypto markets… They can do the update themselves. So it's a mix of on-demand plus permissionless.

Showcasing the oracle solution’s growth, Pyth Network surpassed $600 billion in cumulative trading volume, the companyA significant contributor to surpassing the $600 billion mark was the Ethereum layer-2 network Blast, Tillement explained:

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pyth Network launches ‘Express Relay’ service aiming to eliminate MEVOracle solution Pyth Network has launched Express Relay, designed to connect leading trading firms to DeFi protocols.
Source: TheBlock__ - 🏆 464. / 53 Read more »