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- PYTH is up 9% in the last 24 hours, outperforming other major cryptocurrencies.
- The deal comes following the merger of Pyth Network and Polymarket.
PYTH, a coin from the Pyth Network, is one of the top performers in the crypto market over the past 24 hours. It could rise soon as the broader market resumes Thursday’s decline.
PYTH is participating in Polymarket conferences
On Thursday, Pyth Network was revealed in a blog post that Polymarket, the world’s largest market prediction platform, has integrated Pyth Pro as a source of new financial contract information.
Initial offerings include gold, silver, and major ETFs. Polymarket now relies on Pyth Pro data to generate its daily market highs/lows and daily closes, price charts are updated every second to ensure full visibility.
The merger has seen PYTH rally by 9% over the past 24 hours and is now trading at $0.0420 per share.
Pyth Pro provides real-time price data via WebSocket, which Polymarket measures every second to display as a “success price” chart. This allows traders to assess market conditions based on real-time conditions.
Asset selection consists of a variety of traditional currencies, including equity indices, commodities such as gold, silver, WTI crude, and natural gas, as well as more than a dozen US currencies such as TSLA, COIN, and PLTR.
Polymarket has integrated this virtual reality as an integral part of its regular trading platform. Pyth Pro provides stock market information from leading companies, ensuring accuracy, transparency, and cost effectiveness across product categories and regions.
To achieve this, Pyth partnered with industry leaders and government agencies such as Cboe, Jane Street, Revolut, and the US Department of Commerce. This partnership has helped establish a new model for market data availability, accuracy, and transparency.
PYTH eyes $0.050 as bulls enter
The 4-hour chart of PYTH/USD is stable and active despite the fact that the currency added 9% to its value in the last 24 hours.
Technical indicators have changed significantly, indicating that the bulls are controlling the market. The RSI of 63 is above the neutral 50 and could enter oversold territory if the rally continues.
The MACD lines are also within positive territory, indicating a strong bullish bias. If the rally continues, PYTH may retest the $0.050 target level for the first time since March 17.
However, if the bears regain control, PYTH could retrace Thursday’s low of $0.038 in the next few hours or days.
