Pyth Indices Launch 24/7 Pricing for Stocks and Oil

Steady attention without excessive speculation.

The products turn Pyth’s first-party price feeds into continuous benchmarks. Each index runs around the clock, even when traditional exchanges are closed. Coinbase and Kraken are already building derivatives on top of them.

What Pyth Indices Cover

Each index uses a defined basket and a custom methodology. The network then publishes a single reference price that updates continuously.

The initial suite spans US equities such as NVDA, TSLA, AAPL, MSFT, and MSTR. It also covers metals like gold and silver, plus oil benchmarks for WTI and Brent. Foreign exchange feeds round out the launch.

On top of the single-name products sit four thematic baskets: AI10, Defense10, China10, and Tech100. Each basket groups related stocks and calculates one continuous value rather than tracking a single ticker.

Pyth has not published an exhaustive count of every live index. The broader network already runs more than 3,000 feeds across 40-plus blockchains, according to Pyth.

Why 24/7 Pricing Matters

Traditional market data stops at the closing bell. Crypto, by contrast, never sleeps, and that always-on expectation is now spreading to traditional assets.

On-chain derivatives need a reliable price even when the NYSE or the CME is shut. Without one, perpetual futures and other contracts have no fair number to settle against during off-hours.

Pyth built toward this for months. It already ran a 24/7 oil index and offered 24/5 US equity pricing through an exclusive Blue Ocean ATS partnership.

Pyth aggregates first-party data from more than 125 institutions, including exchanges, trading firms, and market makers. When traditional venues close, the network sources prices from wherever real price discovery continues.

“Traditional data feeds were built for a world where trading stopped at the closing bell,” said Mike Cahill, CEO of Douro Labs and a Pyth Network contributor. He added that Pyth Indices mark “an inflection point in access to 24/7 markets, where ‘market close’ no longer means the end of trading.”

Coinbase and Kraken Build on the Indices

The launch is not just theory. Around June 15, Coinbase began offering futures on the four thematic baskets, according to Pyth.

Kraken is using the feeds for a different product. The exchange is launching perpetual contracts on oil, where the underlying market does not trade around the clock.

“Pyth Indices give us a continuous benchmark for assets where the underlying market doesn’t trade round the clock,” said John Palmer, Global Head of Derivatives at Kraken. He tied the move directly to Kraken’s oil perps.

Boris Ilyevsky, Head of Derivatives at Coinbase, framed the shift as structural. “Institutional-grade, 24/7 markets are becoming the standard,” he said, adding that demand for continuous pricing across equities and commodities “will only accelerate.”

The MarketVector Partnership

Pyth did not build the thematic baskets alone. It co-developed them with MarketVector Indexes, an index house owned by VanEck.

That partnership matters for credibility. MarketVector brings established, regulated index methodology to baskets like AI10 and Tech100, which helps position the products for institutional users.

The collaboration also signals a bigger ambition. Pyth is pairing decentralized, first-party data with a traditional benchmark provider. The goal is to compete in a reference-price business long dominated by legacy incumbents.

PYTH Token Reaction

The market noticed. The PYTH token reportedly rose roughly 14% around the June 9 announcement, according to CryptoRank.

The token traded near $0.0399 in mid-June, up about 28% over seven days, according to CoinGecko data. The seven-day range ran from $0.0303 to $0.0416.

Still, the rally reflects sentiment more than measured usage. There is no public dashboard yet tracking how much volume the new feeds actually drive on-chain.

The Open Questions That Remain

Coverage so far has been overwhelmingly positive, but real questions remain. Decentralized oracles still have to prove they can serve as settlement benchmarks for high-stakes traditional finance.

Data licensing and provenance are another concern. Institutional-grade benchmarks usually carry strict source agreements, and the exact commercial terms behind each feed are not public.

Regulators have not settled how they treat on-chain equity and commodity benchmark indices either. Competitors such as Chainlink, RedStone, and Chronicle are chasing the same market, so Pyth’s lead is far from guaranteed.

What Comes Next for Pyth Indices

The next test is adoption. If those products draw heavy volume, Pyth Indices could become a default reference layer for 24/7 markets.

Pyth is opening access for custom indices through its indices page, and more venues may follow. Traders can also explore the underlying feeds through the Pyth Terminal.

For now, the launch closes a long-standing gap in always-on markets. Whether it reshapes the benchmark business will depend on the volume that follows.

This article is for informational purposes only and is not financial advice. Always do your own research before making any investment decision.