The blockchain oracle network Pyth has launched the Pyth 24/7 Oil Index. This is the world’s first continuously updating composite crude oil index. It addresses price gaps in traditional markets by aggregating on-chain and off-chain data from institutional sources and decentralized derivatives platforms outside of standard trading hours.
The launch of this index comes amid high volatility in the global energy market due to geopolitical tensions affecting oil supply. Pyth fills this information void by leveraging its oracle model, where institutional firms and market makers publish data directly, enabling uninterrupted real-time WTI pricing, even during weekends.
This oil index marks the beginning of a planned series of proprietary, continuously updating indices that will cover commodities, macroeconomics, and other asset classes, providing critical data for real-time on-chain and off-chain trading.
Source:https://acortar.link/O8fPxV
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