Revolut Becomes First Traditional Bank to Join Pyth Network
Revolut has become the first traditional finance entity to join Pyth Network, a major oracle network, as a data publisher. This partnership allows Revolut to contribute its price data for various digital assets to enhance the decentralized finance (DeFi) ecosystem.
- Revolut will provide accurate price data to support decentralized applications on the blockchain.
- The partnership aims to improve market transparency and accessibility without requiring Revolut to engage in trading activities.
- Pyth Network is encouraging other financial institutions to also become data publishers.
- Pyth's total value locked (TVL) is $386.28 million, a 7.72% decrease over the last 24 hours.
- PYTH token has dropped 9.06% in the past 24 hours, currently trading at $0.3381, down 70.51% from its all-time high of $1.15.
The Relative Strength Index (RSI) for PYTH indicates bearish control, with a value of 37.66, suggesting potential entry into the oversold region.
