Nasdaq announced it has selected Pyth Network (PYTH) to distribute its market data. This collaboration makes Pyth the first on-chain network to distribute Nasdaq’s market data. According to a
Nasdaq announced it has selected Pyth Network (PYTH) to distribute its market data. This collaboration makes Pyth the first on-chain network to distribute Nasdaq’s market data.
According to a statement by Pyth, Nasdaq chose Pyth to bring its Nasdaq TotalView depth ledger and order imbalance data to the onchain ecosystem, institutional users, and modern data distribution channels. As part of this, Nasdaq will join the Pyth Data Marketplace as a data publisher.
Initially, Nasdaq TotalView data will be made accessible via Python. TotalView is among Nasdaq’s key data products, providing information on order book depth and offering market participants more detailed insights into liquidity, buy and sell orders, and market structure.
Related News: Why Isn't the Clarity Act Being Passed? What's the Latest on the Bullish Crypto Bill? The Next Two Weeks Are Critical
Mike Cahill, CEO of Douro Labs and a contributor to the Pyth Network, said that a major exchange like Nasdaq choosing Pyth for data distribution signals the direction of institutional market data. Cahill noted that market data resided in terminals designed for humans for many years, but today markets are becoming increasingly software-driven. According to Cahill, data is now being moved directly from the source and under unbiased conditions to where the applications are actually built.
Following this development, the price of PYTH increased by approximately 10%. *This is not investment advice.
Continue Reading: Nasdaq Announced a Partnership with an Altcoin: The Price Surged
