Bubble
Pyth Network PYTH
Pyth Network (PYTH) was trading at $0.0539, ranked #116 by market cap at $424.81M, with 24h volume of $60.13M.
Data snapshot: 2026-09-02 12:15 UTC.
Pyth is an oracle network whose price data is published directly by the firms that generate it — exchanges, market makers and trading firms — rather than gathered second-hand by node operators. It uses a pull model where applications request the latest signed price when they need it, which suits derivatives venues that need fresh prices at the moment of execution. Pyth takes a different route to the same problem: instead of paying node operators to fetch prices from public sources, it has the firms that actually create the prices — exchanges and trading firms — publish their own data directly. That shortens the chain from source to contract and gives sub-second updates, which matters for derivatives where a stale price is a losing position. The trade-off is that it depends on those publishers reporting honestly. On this map PYTH sits with the data layer, and its adoption has been strongest where update speed matters most.
How is Pyth different from Chainlink?
Pyth has exchanges and trading firms publish their own price data directly, rather than paying node operators to fetch it from public sources. That shortens the path and speeds up updates.
Why does update speed matter?
In derivatives, a price that is seconds stale can mean a liquidation at the wrong level. Faster updates reduce the gap between market reality and what the contract sees.
What is the trade-off?
It relies on first-party publishers reporting honestly. The security model rests on publisher incentives and aggregation rather than on independent verification of each source.
What is PYTH used for?
Governance of the network, including fee parameters and the publisher and aggregation mechanisms.
Market cap decides how big a bubble is drawn, so rank is what places PYTH on the map relative to the rest of its sector.
| Rank | Coin | Market cap |
|---|---|---|
| #19 | Chainlink (LINK) | $6.44B |
| #116 | Pyth Network (PYTH) | $424.81M |
| #185 | The Graph (GRT) | $175.82M |