Markets

Pyth Network Launches GMCI 30 Crypto Market Index

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The Pyth Network announced the launch of the GMCI 30 Index Price Feed, making the GMCI Crypto Market Price Index accessible to over 60 blockchain ecosystems.

This launch is a step towards providing smart contract and blockchain developers with real-time financial data.

“We are excited to announce that Pyth Network will stream GMCI Index prices,” said Maarten Botman, CEO of GMCI. “This collaboration represents a significant step forward in our mission to become the standard of choice in cryptography.”

GMCI specializes in creating indices for digital assets, providing a seamless way to attract investors and financial institutions to Web3 markets.

This year, GMCI launched the GMCI 30 Index, which tracks the top 30 digital assets based on market capitalization. The index includes top cryptos like Bitcoin (BTC) and Ethereum (ETH).

Essentially, this new index was created to provide insight into the crypto market, thereby helping to gauge the stability and growth trends of the sector.

GMCI 30 integration

Pyth Network’s network of proprietary data providers now offers developers transparent, permissionless access to the GMCI 30 real-time price feed. Python already covering major traditional market indices like the DJIA and SPY, the GMCI 30 is its first digital asset index feed.

Ben Yorke, VP of Ecosystem at WOO, expressed his enthusiasm for the integration, highlighting the ongoing collaboration between GMCI, WOO and Pyth to develop valuable new indices.

“As a long-time data provider on the Pyth network, WOO bring value to both merchants and consumers of Pyth Price feeds,” Yorke said.

Several DeFi protocols, including Bluefin, D8X Exchange, Pingu Exchange, Vela Exchange, and Horizon Protocol, have already started using the stream. The Pyth network provides real-time financial data for different blockchain ecosystems, driving innovation and reliability in the digital asset market.

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