Blockchain Gaming
Pyth Network Dominates Perpetual Futures Trading on Leading Blockchains
Thursday. July 18 at 8:30 PM
1 min. readPyth Network has emerged as the primary choice for perpetual futures trading on various prominent blockchain networks. The blockchain oracle solution has captured a significant market share in perpetual futures trading on multiple blockchain networks where it operates. Notably, Pyth dominates 100% of the perpetual futures trading volume on top blockchain networks like Solana, Avalanche, Sui, Aptos, Fantom, Injective, and Ton. This success can be attributed to Pyth's permissionless and user-friendly implementation model, as highlighted by Marc Tillement, the director of the Pyth Data Association. With Pyth Network surpassing $600 billion in cumulative trading volume, the platform's growth is evident. Despite external factors like the Ethereum layer-2 network Blast contributing to this milestone, Pyth's organic market-driven growth is expected to further boost its trading volume significantly. As blockchain oracles play a crucial role in the DeFi space, Pyth Network stands out as the fourth largest oracle, securing over $4.9 billion in total value across 201 blockchain protocols.