Key takeaways
- The value of PYTH has risen by 9% in the past 24 hours, outperforming other major cryptocurrencies.
- This rise comes after Pyth Network’s integration with Polymarket.
PYTH, the native coin of the Pyth network, is one of the best performing coins in the cryptocurrency market over the past 24 hours. It may rise in the near term as the broader market recovers from Thursday’s decline.
PYTH celebrates Polymarket integration
On Thursday, the Pyth Network revealed in a Blog post Polymarket, the world’s largest prediction market platform, has integrated Pyth Pro as a data source for a new set of traditional asset contracts.
Primary offerings include gold and silver ETFs and major stock indices. Polymarket now relies on Pyth Pro data to run its daily up, down and daily close markets, with live price charts updated every second to ensure full transparency.
The integration has seen PYTH rise 9% over the past 24 hours and is now trading at $0.0420 per coin.
Pyth Pro provides real-time price data through WebSocket, which Polymarket samples every second to display as a live “price to beat” chart. This allows traders to monitor the market situation relative to their positions in real time.
The assets selected span a wide range of traditional finance, including major stock indices and commodities such as gold, silver, WTI and natural gas, along with more than a dozen high-profile US stocks such as TSLA, COIN and PLTR.
Polymarket has integrated this real-time data as a key component of its perpetual futures trading platform. Pyth Pro delivers institutional-level market data directly from major companies, ensuring it is accurate, transparent and affordable across all asset classes and regions.
To advance this, Pyth has partnered with industry leaders and government agencies such as Cboe, Jane Street, Revolut, and the US Department of Commerce. This collaboration has helped create a new model to make market data more accessible, accurate and transparent.
PYTH eyes $0.050 as bulls intervene
The 4-hour chart of PYTH/USD is bearish and active despite the coin adding 9% to its value in the past 24 hours.
Technical indicators have turned higher, indicating that the bulls are now in control of the market. The RSI at 63 is well above the neutral 50 level and will enter overbought territory if the rally continues.
The MACD lines are also within the positive zone, indicating a strong bullish bias. If the rally continues, PYTH may retest the psychological level at $0.050 for the first time since March 17.
However, if the bears regain control, PYTH could retest Thursday’s low at $0.038 within the next few hours or days.
