The Pyth Network stands as a preeminent and rapidly expanding primary oracle network, known for its real-time market data provisioning to financial decentralised applications (dApps) across more than 40 blockchain platforms. It offers over 380 price feeds with minimal latency, encompassing a diverse range of financial instruments including cryptocurrencies, stocks, exchange-traded funds (ETFs), foreign exchange (FX) pairs, and commodities.
This network is a collaborative effort involving leading exchanges, market makers, and financial institutions globally, all contributing their proprietary price data for utilisation in smart contracts. Key participants include notable entities such as Binance, OKX, Jane Street, Bybit, and Cboe Global Markets, among others. The Pyth Network’s oracle mechanism efficiently consolidates this data directly on the blockchain, ensuring accuracy and resistance to manipulation. The protocol also enables users to conveniently “pull” the most recent prices onto their respective blockchains as required.
Within a year of introducing its cross-chain pull oracle, the Pyth Network has amassed over $1 billion in total value. It has gained widespread adoption, being utilised by over 250 applications and securing a trading volume of $100 billion. The integration with Pyth Price Feeds is open and does not require special permissions.
The best place to buy Pyth Network is right here at Swyftx! Swyftx offers a fast, secure, and user-friendly platform that allows traders to easily deposit Australian dollars to trade Bitcoin and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be Australia's highest-rated crypto exchange as per our Trust Pilot Reviews.
Yes, Swyftx is a safe and secure platform to buy and sell Pyth Network (PYTH). Swyftx employs a range of advanced security measures to protect user funds and personal information and has been awarded ISO27001 certification for information security.
Swyftx is a AUSTRAC registered exchange that conducts regular security audits and maintains strict compliance with Australian Anti-Money Laundering and Counter-Terrorism Financing Laws.
You can find more information on our security practices here.
The price of PYTH is determined by the forces of supply and demand in the market. Similar to other assets, the price of Bitcoin is determined by the number of buyers and sellers in the market at any given time.
Some significant factors that can influence the demand for Bitcoin are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment.
You can deposit Australian dollars (AUD) into Swyftx via a number of methods including:
Swyftx also allows you to deposit cryptocurrency from another wallet into your account.
Swyftx does not allow you to directly buy Pyth Network with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy PYTH instantly.
Swyftx has a trading fee of 0.6% for all buy and sell orders. In addition to the trading fee, Swyftx applies a spread to each cryptocurrency trade.
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