Pyth Network (PYTH)
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Price of Pyth Network today in real time
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Historical price evolution of Pyth Network
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Pyth Network was publicly announced on 7th April 2021, being incubated by Jump Trading, a high-frequency trading firm based in Chicago. The project arose from the observation that existing oracles such as Chainlink utilised data from slow third-party aggregators, which proved inadequate for high-frequency DeFi applications that required more agile and precise pricing information.
On 26th August 2021, Pyth launched its mainnet on the Solana blockchain, offering price feeds for more than 30 cryptographic assets distributed across Solana, Ethereum and Terra. The protocol's initial data publishers included Jump Trading, FTX, Bitso and more than 40 additional financial institutions that had joined by the end of that year.
In August 2022, the protocol experienced a significant evolution with the launch of Pyth V2 and Pythnet, a proprietary blockchain based on Proof of Authority (PoA) built on a Solana fork. Pythnet multiplied the system's capacity by 20, enabling thousands of price updates per second and facilitating cross-chain expansion through Wormhole. This development also introduced an operational model change, moving from the "push" system where the oracle continuously pushed data, to the "pull" model in which the user requests the data when needed, thereby reducing gas costs.
July 2023 marked an organisational milestone when the Jump Trading team developing Pyth spun off as an independent company, forming Douro Labs under the direction of Michael Cahill, Jayant Krishnamurthy and Ciarán Cronin. Subsequently, in November 2023, a retroactive airdrop of the PYTH token was executed targeting active DeFi users, community members and protocols using Pyth, coinciding with the launch of the Pyth DAO's on-chain governance system. The total supply was established at 10,000 million PYTH, with 85% locked for gradual distribution over 7 years.
During 2024, Pyth reached a Total Value Secured (TVS) exceeding 5,000 million dollars, expanding to more than 55 blockchains with more than 500 price feeds covering cryptocurrencies, commodities, forex currencies and equities. According to DefiLlama data, Pyth represented approximately 25% of dApps and facilitated more than 90% of trading volume across 23 blockchain networks. In May 2025, Pyth partnered with Integral to integrate traditional FX pipelines to the blockchain and launched price feeds for the world's largest ETFs by Assets Under Management (AUM). Development continued in July 2025 with the launch of Entropy V2, an improved version of its on-chain randomness service.
Pyth Network functions as a decentralised oracle that connects financial data from first-tier institutions with smart contracts on more than 55 blockchains. Unlike other oracles such as Chainlink that depend on node operators who aggregate third-party information, Pyth obtains prices directly from the source: exchanges, market makers and trading firms publish their own data in real time, which is referred to as "first-party data". Each publisher sends not only its price, but also a confidence interval that indicates the degree of uncertainty of that data, allowing the protocol to evaluate the quality of each source.
The aggregation process combines all this data through a weighted median that generates a single price resistant to manipulation. The architecture operates under a "pull" model: prices are consolidated every 400 milliseconds approximately on Pythnet, a proof-of-authority blockchain, but are only transferred to other networks when a decentralised application specifically requests them. When this occurs, the price is verified through cryptographic signatures via the Wormhole protocol before being included in the transaction, resulting in greater gas efficiency than "push" systems that continuously update prices regardless of whether they are needed.
The PYTH token fulfils governance functions within the ecosystem, granting its holders voting rights over fundamental aspects of the protocol such as fees, rewards for data publishers, technical updates and the inclusion of new assets in the system. This structure allows the community to have control over the evolution and operational parameters of the network.
Data verified against external sources. Some values may have changed since the last update.