Hedera

Bitcoin ETF

Gary

Pyth Network

Pyth Network — a provider of real-time market data for blockchain applications — will launch price feeds and Pyth benchmarks on open-source, proof-of-stake public ledger Hedera.
According to a Feb. 26 press release, more than 400 Pyth price feeds will be launched on Hedera. Grace Pfluger, HBAR Foundation director of business development, said: 
<blockquote data-ct-non-breakable="true">
 “Public oracle price feeds are a critical component for growth as lending is often seen as the crux of economic behavior. This infrastructure is a huge milestone to spur development of innovative financial instruments on Hedera.”
</blockquote>
Pyth price feeds will offer a pull oracle design to enable Hedera users and developers access to the latest price updates for over 400 ultra-low-latency price feeds across cryptocurrencies, foreign exchange, commodities, equities and exchange-traded funds (ETFs).&nbsp;
Related: <a href="https://cointelegraph.com/news/sec-gary-gensler-false-spot-bitcoin-etf-tweet">Gary Gensler responds to US lawmakers over SEC’s false spot Bitcoin ETF tweet</a>
Another service provided by Pyth price feeds is a confidence interval feature to inform downstream protocols about ongoing volatility and market dislocations.
HLiquity — a decentralized borrowing protocol that allows users to draw interest-free loans against Hedera’s (<a href="https://cointelegraph.com/hedera-hbar-price-index">HBAR</a>) token — will be the first application on Hedera to integrate with Pyth data. HLiquity helps track the current prices of HBAR and Swiss franc prices to ensure that user vaults and the overall protocol remain overcollateralized.
The Pyth Network is a first-party financial oracle network that provides low-latency real-world data to multiple blockchains. On Feb. 20, it announced the <a href="https://cointelegraph.com/news/pyth-network-bitcoin-etf-price-feeds-defi-developers">launch of price feeds</a> for 13 Bitcoin ETFs. According to the company, the feeds could help decentralized finance platforms expand portfolio options, improve risk mitigation strategies and enhance liquidity by potentially attracting institutional capital on-chain.
In January 2024, the Hedera Global Governing Council, which oversees the Hedera network, <a href="https://cointelegraph.com/news/hedera-network-approves-408m-worth-hbar-allocation-for-ecosystem-growth">approved the allocation of 4.86 billion HBAR</a>, worth roughly $408 million, for further development and advanced decentralized governance. The funds are part of Hedera’s goal to strengthen its base following its 2023 performance, with over 33 billion real-world transactions on the network.
Magazine: <a href="https://cointelegraph.com/magazine/5050-bitcoin-for-5-dollars-2009-helsinki-claim-to-crypto-fame-crypto-city-guide/">5,050 Bitcoin for $5 in 2009: Helsinki’s claim to crypto fame</a>

Pyth Network launches real-time market data on Hedera

Cointelegraph

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