Market data published directly by 120+ financial institutions, with publisher-driven updates.
Live market data
CoinGecko data; may be delayed.
78.7% of the achievable supply is already circulating.
$1.2 -95.38% · Mar 15, 2024
Source: CoinGecko, snapshot of Sep 13, 2026. Figures may be delayed.
This asset is not mapped to a DefiLlama-tracked protocol or chain, or the provider reports no data for it. When a verified mapping exists, the table appears here.
Pyth is an oracle network whose price feeds come directly from exchanges, market makers, and trading firms rather than from on-chain aggregation. Its pull model lets applications request updates when needed, and it now covers thousands of feeds including equities, commodities, and FX alongside crypto pairs. The PYTH token governs the network and accrues value from publisher and staking mechanics; its competitor relationship with Chainlink is the defining rivalry of the oracle category.
General research guidance, not analysis specific to this asset. Detail is pending.
Track the real organization or foundation behind the token, not just the ticker.
Separate token utility from price action before building a position.
Compare network usage, liquidity, incentives, and governance quality against nearby competitors.
Traditional oracles aggregate on-chain; Pyth inverts that. More than 120 financial institutions — exchanges, market makers, trading firms — publish their own price data directly to the network, and applications pull updates exactly when they need them rather than paying for continuous on-chain broadcasts. The feed catalogue spans thousands of pairs including equities and FX, with the network live across more than a hundred blockchains.
Governance over oracle network parameters
Staking to publishers and price-feed insurance mechanics
PYTH accrues value through staking and insurance mechanics around feed quality: publishers and stakers are rewarded for good data and can be slashed for bad data, and the token governs the network. The honest caveat is that oracle demand does not automatically become token demand — applications consume feeds, and converting that usage into token sinks is a design goal, not a given.
PYTH launched with a very large allocation to publishers, market makers, and ecosystem programs, so its circulating supply grew through scheduled releases rather than organic emission. Unlock schedules and staking lockups are the variables that move effective float, and the foundation's allocations are the main overhang to track.
The token governs network parameters, publisher admission, and treasury direction through a DAO structure, with day-to-day operations run by Pyth Data Association and the developer company behind it. Publisher composition — who gets to supply data — is the decision that matters most in practice.
Publisher concentration: a small set of trading firms supplies most data
Pull-model updates can lag exactly during volatile events when data matters most
Direct competition with a much larger incumbent in Chainlink
The data model. Pyth's prices come directly from financial institutions publishing first-party data with sub-second updates on demand, while Chainlink aggregates many third-party sources into on-chain consensus feeds that update continuously. Pyth trades decentralization of sources for speed and institutional provenance; Chainlink's model is broader but slower and more expensive per update.
Yes. The catalogue includes thousands of price feeds spanning US equities, ETFs, commodities, and FX alongside crypto pairs, which is what makes it relevant to perpetuals venues listing tokenized versions of traditional assets.
Last verified:
Pyth Network · pyth.network · primary source
First-party data from 120+ financial institutions, 3,000+ price feeds, publisher counts, and multi-chain deployment.
Accessed
Pending linkage to a concrete organization on the map.
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