Markets
Pyth Network Launches GMCI 30 Crypto Market Index
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 pleased to announce that Pyth Network will broadcast GMCI index prices,” said Maarten Botman, CEO of GMCI. “This collaboration represents a significant step in our mission to become the preferred reference in the crypto space.”
GMCI specializes in creating indices for digital assets, which provides a transparent way to attract investors and financial institutions to the Web3 markets.
This year, GMCI introduced the GMCI 30 Index, which tracks the top 30 digital assets based on market capitalization. The index includes major cryptocurrencies such as Bitcoin (Bitcoin) and Ethereum (ETH).
Essentially, this new index was created to provide an overview of the crypto market, aiding in assessing industry stability and growth trends.
GMCI 30 Integration
Pyth Network’s network of first-party data providers now offers developers seamless, permissionless access to GMCI 30’s real-time price feed. Pyth already covers major traditional market indices such as DJIA and SPY, GMCI 30 is its first digital asset index feed.
Ben Yorke, Vice President of Ecosystem at WOO, expressed excitement 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 as well as consumers of Pyth Price feeds,” said Yorke.
Several DeFi protocols, including Bluefin, D8X Exchange, Pingu Exchange, Vela Exchange, and Horizon Protocol, have already started using the feed. Pyth Network provides real-time financial data to different blockchain ecosystems, promoting innovation and reliability in the digital asset market.