In a thread of tweets on it’s official page, Pyth network announced the integration of Bybit. According to the announcement, Pyth network alongside Bybit will provide live-data on price of cryptocurrency for users. The Network indicated that the innovation is part of it’s commitment to the DeFi space and the cryptocurrency sphere at large.
Further, the intergration will enhance the services of Pyth network to meet the demands of its users. The Network is an Oracle that unlocks exclusive financial market data for the accessibility of DeFi users. Though on a broad range, the services of the network extend beyond the DeFi space.
More so, the development consolidates Pyth network’s commitment to supporting financial data providers and users. It will help the network push further to make the price of every asset available on every chain. Before the integration of Bybit, the network specializes in pricing data for cryptocurrency, forex, equities and commodities.
The network relies on sources that are within and outside the DeFi and cryptocurrency sphere. Now, Bybit will join the league of Pyth network partners and provide live-data of crypto prices for its users. As stated in the announcement, the integration will aid the network to grow and scale into more symbols, assets, classes and layer one ecosystems. Likewise, the firm offered developers that are interested to contribute to the network a channel to register their interest.
The integration will yield positive outcomes for Pyth network due to the prominence of Bybit. Currently, the crypto currency exchange is the second most visited globally. The crypto exchange operates in more than 160 countries and it supports more than 16 languages.
Side notes on the collaboration between Pyth Network and Bybit
An extract of the announcement on Pyth network’s page reflected the opinion of Bybit’s Head of Financial Products, Bill Xing. The executive expressed delight in partnering with the network. Xing said the partnership will provide the blockchain community with accurate and transparent data that will aid the industry’s growth.
Bybit enjoys the patronage of 3,281,352 users on a weekly basis, with 338 listed cryptocurrency assets. In the past, Pyth network has partnered with MojitoSwap, KuCoin, DWF labs, BitMart, ChilizX and many others.