Pyth Pro: Bloomberg, But Built Different

DeFi’s data giant Pyth Network is chasing Wall Street’s $50B prize

Here’s a fun fact to start your day:

Market data – the prices you see on your screen when you check a stock, crypto, or commodity – is a $50 billion industry.

50 billion dollars every year, simply for providing pricing numbers.

Why? It’s all because banks, hedge funds, and trading desks all pay big bucks just to know where prices are at any moment.

For decades, market data giants like Bloomberg, Refinitiv, and others have set the standard in market data.

Up until today, if you wanted to play in the big leagues, you had to pay these kinds of players. No other way about it.

But now, Pyth Network is coming for a piece of the pie…

First, What’s Pyth Network?

Before we get into the new thing, here’s the Pyth Network 101 in its current form.

Pyth Network (powered by $PYTH) is a decentralized data network, similar to Chainlink.

What’s a decentralized data network?

In simple terms, it’s a tamper-proof source of “number” data. Those numbers could be the price of Bitcoin, Nvidia shares, or even the score of a sports game.

Pyth Is For Finance

Now, while Chainlink provides data for all kinds of things, Pyth puts its focus specifically on financial data.

Pyth is like a giant digital funnel for quality market data.

It takes in price updates from 125+ trading firms, exchanges, and banks, and streams them straight out to the apps, protocols, and platforms that need those numbers in real time.

Pyth Network already dominates in crypto:

• 600+ apps use it for pricing data across 100 blockchains
• It’s secured over $1.6 trillion in transaction volume to date
• It holds more than a 60% share of the DeFi derivatives market.

If you’ve traded onchain, odds are you’ve touched Pyth Network’s data without even realizing it.

Now Comes Pyth Pro

So what’s new?

Pyth Pro is the next chapter in Pyth Network’s roadmap.

Pyth Pro is a subscription product aimed at institutions, rather than just protocols and DeFi apps.

That’s Pyth making a statement: It’s not just for crypto. It’s coming for the $50B institutional market data industry, too.

The idea is simple:

Instead of getting prices second-hand through middlemen, institutions can now get access to the same data Pyth already curates – in a ready-to-use format.

That includes prices straight from Jane Street, Jump, DRW, Optiver, Cboe, LMAX, and even the US Department of Commerce.

That’s data straight from the source, before it’s been filtered, averaged, or delayed.

Why Market Data Needs a Shake-Up

Now, if you’re not deep in the financial world, you might wonder:

Is it really that difficult to get quality pricing data? After all, it’s just numbers, right?

Wrong.

The funny thing is…pricing data gets messed with way more than you’d think – even by the pros.

Here’s the problem with the way the system works right now:

• The most valuable prices are created by trading firms, but most institutions get a watered-down version that’s already a step removed from reality.
• To make up for this, institutions often end up buying pointless extra price feeds, just so they can double-check accuracy.
• Even then, the coverage is never complete. Each vendor only shows you their slice: one order book here, one region there. No one gets the full global picture.

And then on top of that, data costs are spiraling out of control.

According to Pyth, other providers’ market data fees have jumped more than 50% in just three years.

Even worse, two desks might pay completely different amounts for the exact same product, all depending on their negotiation skills.

The process of actually getting set up with that data can also be slow and painful – months of contracts, outdated formats, and integration headaches.

Imagine paying top dollar for cable TV when all you want is one show…and the picture still comes through fuzzy anyway.

Not a vibe.

So, How does Pyth Pro Work?

This is where Pyth Pro flips that existing model.

Pyth Pro streamlines the sourcing of data. It also makes sure it’s untouched, and gives all users a clear pricing structure:

And the best part of all, is that the integration is simple.

Unlike the old school data providers, Pyth’s data comes in the formats that institutions already use.

That means they can plug it straight into their systems without waiting months for a complex technical setup.

Why Pyth Might Actually Pull This Off

As you could imagine, a ton of startups have tried to take on the likes of Bloomberg before.

Of course, most failed.

But Pyth has a bunch of advantages that make it different. Here’s why:

Firstly, Pyth already has scale.

Over 600 apps, 100 blockchains, and $1.6 trillion in secured volume prove it can handle serious demand.

Second, it’s already got the trust of big names.

More than 125 institutions are publishing prices into the Pyth Network today. Pyth might be relatively new, but it’s already proving it’s got what it takes when it comes to partnerships.

And third, it’s not only trying to sell data.

Pyth is structured as a network and DAO, powered by the $PYTH token.

That subscription revenue from Pyth Pro can flow back into the project’s ecosystem to incentivize participants.

The more institutions use it, the stronger and more sustainable the network becomes.

That creates a positive feedback loop: every new contributor adds value, and every new subscriber makes the model more attractive.

The Bottom Line

Pyth Pro isn’t just trying to be another Bloomberg competitor.

It wants to be the Netflix of the market data industry – streaming prices straight from the source, instead of making you buy cable bundles for re-runs.

By giving institutions one fair and reliable feed, it cuts out the mess of middlemen, hidden fees, and blind spots.

If it plays out, Pyth Pro might just have the potential to do to the traditional data industry what Netflix did to Blockbuster:

Turn the whole market upside down, and change how we all watch the market.

Why wait?

Try Pyth Crypto free right now – or grab Pyth Pro and see the market the way the pros do: