🚀 Chainlink Faces Growing Competition In Oracle Market

According to Cointelegraph, Chainlink, a decentralized oracle provider, is experiencing increased competition in the oracle market despite its long-standing dominance. Pyth, another decentralized oracle network, has shown significant growth, increasing its Total Value Secured (TVS) by 46 times, from $98.35 million to $4.67 billion within nine months through 2024. This expansion has allowed Pyth to extend its reach to 211 chains, positioning itself as a serious contender in the real-time data oracle space.

Despite Pyth's rapid growth, Chainlink remains the leading oracle provider as of September, securing $20.113 billion across 404 chains and holding a 46.46% market share. However, this represents a slight decline from its 48.64% market share at the beginning of the year. The combination of Pyth's growth, Chainlink's decreased market share, and the emergence of new oracle providers is gradually eroding Chainlink's previously uncontested leadership.

Pyth, despite its significant growth, holds the third position in the market with a 10.79% share. WINkLink, which services only two blockchains—Tron and the BNB Smart Chain (BSC)—holds the second position with a 16.47% market share and a TVS of $7.13 billion. WINkLink's position is largely due to its heavy use within the Tron ecosystem. Following Pyth is Chronicle, with a market share of 9.05% and a TVS of $3.916 billion. Chronicle once controlled the entire market until late May 2019 but steadily lost its dominance after Chainlink took the top spot in June 2020.

Chainlink co-founder and CEO Sergey Nazarov has highlighted the importance of oracle networks in mitigating risks associated with legacy financial systems. Following a technical glitch on June 3 that caused the prices of multiple large-cap stocks to plunge by up to 99.9% on the New York Stock Exchange (NYSE), Nazarov emphasized that oracle networks can provide accurate, tamper-proof data to prevent such vulnerabilities.

#Chainlink #Pyth #oracle #decentralized #competition #real_time_data #TotalValueSecured #marketshare #blockchain #financialsystems #LINK #PYTH #WIN

🚀 Pyth Expands Blockchain Coverage to 76 Chains

According to Odaily, Pyth announced on Platform X that its blockchain coverage has doubled over the past year, now reaching 76 chains.

#Pyth #Blockchain #Expands #76Chains

🚀 Grayscale Considers Adding New Crypto Assets to Its Portfolio

According to Odaily, Grayscale has listed several cryptocurrencies under consideration for addition to its product offerings. The assets being evaluated include AERO, AKT, APT, AR, ARB, ATOM, CELO, CORE, DOGE, ENA, FET, HNT, ICP, IMX, INJ, KAS, METIS, OM, OP, PENDLE, POL, PYTH, RUNE, SEI, STRK, TIA, TON, TRX, UMA, VET, and WLD. Grayscale clarified that as of September 30, 2024, these cryptocurrencies are not yet included in its Crypto Sector.

#Grayscale #CryptoAssets #Cryptocurrency #AERO #AKT #APT #AR #ARB #ATOM #CELO #CORE #DOGE #ENA #FET #HNT #ICP #IMX #INJ #KAS #METIS #OM #OP #PENDLE #POL #PYTH #RUNE #SEI #STRK #TIA #TON #TRX #UMA #VET #WLD

🚀 VanEck Launches Pyth ETN in Europe

According to Cointelegraph, VanEck has introduced an exchange-traded note (ETN) in Europe that tracks the performance of the Pyth Network's native token, PYTH. This new financial product will be available on Euronext Amsterdam and Euronext Paris, providing access to investors across 15 European countries, including Germany, France, Norway, and Switzerland.

The Pyth Network is a decentralized oracle protocol that facilitates the interaction of smart contracts with off-chain data and other blockchain networks. PYTH serves as the governance token for the Pyth Network and boasts a fully diluted market capitalization of approximately $3.4 billion, as reported by CoinMarketCap. Martijn Rozemuller, CEO of VanEck Europe, emphasized the growing importance of blockchain-based smart contracts in the financial sector, highlighting the critical role of oracle networks in enabling real-world applications for these contracts. Rozemuller further noted the potential of the Pyth Network to become a vital component of decentralized finance application infrastructure.

An ETN is a debt instrument that tracks the performance of an underlying asset. The VanEck Pyth ETN is designed to align with the MarketVector Pyth Network VWAP Close Index and is fully collateralized with physical PYTH tokens. These tokens are held by Lichtenstein-based custodian Bank Frick. VanEck has previously launched over a dozen exchange-traded cryptocurrency products in Europe, covering digital assets such as Solana (SOL) and Chainlink (LINK). In the United States, VanEck has also introduced two spot crypto exchange-traded funds (ETFs): VanEck Bitcoin ETH (HODL) and VanEck Ethereum ETF (ETHV).

The outcome of the United States presidential election on November 5 could influence the approval of several proposed crypto ETFs awaiting regulatory clearance. In 2024, asset managers submitted numerous filings to list ETFs holding altcoins, including Solana (SOL), XRP (XRP), and Litecoin (LTC). Additionally, issuers are seeking approval for various planned crypto index ETFs designed to hold diverse baskets of tokens.

#VanEck #PythETN #PythNetwork #PYTH #Euronext #blockchain #smartcontracts #decentralizedfinance #cryptocurrency #ETN #cryptoETFs #digitalassets #altcoins #SOL #LINK

🚀 U.S. Government Collaborates with Blockchain Oracles for Economic Data Transparency

According to Cointelegraph, the U.S. government has enlisted the services of Chainlink and Pyth, two prominent blockchain oracle providers, to facilitate the onchain publication of economic data. This initiative is part of a broader effort by the Trump administration to enhance transparency in government spending and improve accountability.

Pyth has been chosen by the Department of Commerce to serve as a publisher of gross domestic product (GDP) data, which represents the total economic output within a year. This selection was announced on Thursday, marking a significant step in integrating blockchain technology with governmental data dissemination processes. By leveraging Pyth's capabilities, the Department of Commerce aims to ensure that GDP data is accessible and verifiable on the blockchain, thereby fostering greater trust and transparency.

In addition to Pyth, Chainlink has also been selected by the U.S. Department of Commerce to provide data feeds from the Bureau of Economic Analysis (BEA). These data feeds encompass critical economic indicators such as real GDP, personal consumption expenditures (PCE) price index, and real final sales to private domestic purchasers. By utilizing Chainlink's robust oracle network, the government intends to securely and reliably publish these economic metrics onchain, making them readily available for analysis and verification by the public and other stakeholders.

This move aligns with U.S. President Donald Trump's administration's commitment to leveraging innovative technologies to enhance the transparency of government operations. By publishing economic data onchain, the administration seeks to provide a more transparent view of government spending and economic performance, thereby improving public trust and accountability. The collaboration with Chainlink and Pyth represents a significant advancement in the integration of blockchain technology with governmental data systems, setting a precedent for future initiatives aimed at increasing transparency and accountability in public administration.

#USGovernment #BlockchainOracles #Chainlink #Pyth #GDP #BEA #PCE #RealGDP #RealFinalSales #PersonalConsumptionExpenditures #DepartmentOfCommerce #TrumpAdministration #OnChain #Transparency #Accountability #PublicTrust #EconomicData #DataFeeds

🚀 Binance Square Launches PYTH Token Reward Campaign on CreatorPad

According to the announcement from Binance, a new campaign on CreatorPad is set to offer 617,330 PYTH token voucher rewards to verified users who complete specific tasks. CreatorPad, a platform on Binance Square, allows users to earn token rewards by engaging in various activities. The campaign runs from 2025-09-04 10:00 (UTC) to 2025-10-04 10:00 (UTC).

The campaign introduces a Mindshare Leaderboard, launched on 2025-07-17, which evaluates users based on the quality and relevance of their content. Users who produce thoughtful and consistent posts will achieve higher rankings. To participate, verified Binance users must complete three tasks to qualify for a share of the 617,330 PYTH reward pool. The tasks include creating content related to the Pyth Network, following the project's account on Binance Square and X, and completing trading tasks involving PYTH.

The reward structure is based on the leaderboard results at the campaign's end. The top 100 creators on the Pyth Network 30-Day Project Leaderboard will share 432,131 PYTH, while the remaining eligible participants will share 185,199 PYTH equally. Users must maintain their campaign-related posts for at least 60 days after the campaign ends to remain eligible for rewards. Binance emphasizes that only verified accounts can participate, and any violation of community guidelines will result in disqualification. Voucher rewards will be distributed within 14 working days after the campaign concludes, with a validity period of seven days from distribution. Binance retains the right to amend the terms and conditions of the campaign at its discretion.

#Binance #BinanceSquare #CreatorPad #PYTH #PythNetwork #MindshareLeaderboard #Campaign #TokenRewards #VoucherRewards #VerifiedAccounts #KYC #ContentCreation #FollowOnBinanceSquare #FollowOnX #TradingTasks #PythRewards #RewardsDistribution #30DayProjectLeaderboard

🚀 Binance to Update Collateral Ratios for Portfolio Margin Assets

According to the announcement from Binance, the platform is set to update the collateral ratio and Tiered Collateral Ratio for PM Pro concerning specific assets under Portfolio Margin. This adjustment is scheduled to take place on 2026-02-13 at 06:00 (UTC) and is expected to be completed within approximately 30 minutes.

The assets affected by this update include W, SEI, RUNE, SSV, BB, 1INCH, COMP, KSM, AR, PYTH, CKB, KMNO, KNC, DUSK, ATA, MAV, SPK, YFI, HEI, and IOTA. The collateral ratios for these assets will be reduced, with W and SEI decreasing from 45% to 40%, and others like RUNE, SSV, BB, 1INCH, COMP, KSM, AR, PYTH, and CKB dropping from 35% to 30%. Additionally, KMNO, KNC, DUSK, ATA, MAV, SPK, YFI, HEI, and IOTA will see their collateral ratios decrease from 20% to 10%.

For PM Pro assets, the collateral ratio adjustments will also affect the rank floor and cap in USD. For SSV, BB, and CKB, the rank floor will change from 90 to 100,000 USD, maintaining a 100% collateral ratio. The cap will adjust from 100,000 to 250,000 USD, with the collateral ratio decreasing to 80%. Further adjustments include a cap increase to 500,000 USD with a 50% collateral ratio, and a cap of 99,999,999,999 USD with a 10% collateral ratio.

Binance advises users to closely monitor the Unified Maintenance Margin Ratio (uniMMR) to prevent potential liquidation or losses due to these changes. The collateral ratio impacts the uniMMR, and users should remain vigilant to manage their positions effectively.

#Binance #CollateralRatio #PortfolioMargin #PMPro #CryptoAssets #W #SEI #RUNE #SSV #BB #1INCH #COMP #KSM #AR #PYTH #CKB #KMNO #KNC #DUSK #ATA #MAV #SPK #YFI #HEI #IOTA #UnifiedMaintenanceMarginRatio #uniMMR #Liquidation

🚀 Grayscale Celebrates First Anniversary of Pyth Trust

Today marks the first anniversary of the Grayscale Pyth Trust. Grayscale posted on X. The Pyth Trust is a decentralized oracle network providing real-time pricing data for cryptocurrencies, equities, and other financial assets. The governance token for this network is $PYTH, which supports Solana's leading oracle network, PythNetwork.

#Grayscale #FirstAnniversary #PythTrust #DecentralizedOracle #Cryptocurrency #Equities #FinancialAssets #PYTH #Solana #PythNetwork

🚀 Pyth Network Introduces 24/7 Oil Index Amid Market Volatility

Pyth Network has launched a 24/7 Oil Index, coinciding with Hyperliquid's handling of over $1 billion in daily WTI oil perpetual trading volume during recent volatility spikes. According to NS3.AI, the index integrates both onchain and offchain pricing sources to mitigate outdated oil reference prices when traditional commodity markets are closed. This development occurs as tensions involving Iran have disrupted tanker traffic through the Strait of Hormuz, a critical passage for approximately 20% of global oil flows.

#PythNetwork #OilIndex #WTI #Hyperliquid #Volatility #NS3AI #Onchain #Offchain #CommodityMarkets #IranTensions #StraitOfHormuz #OilFlows #PYTH