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 more than 60 blockchain ecosystems.

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

“We are excited to announce that Pyth Network will publish GMCI index prices,” said GMCI CEO Maarten Botman. “This collaboration represents a significant step forward in our mission to become the preferred reference in the crypto space.”

GMCI specializes in creating indices for digital assets that provide a transparent way to attract investors and financial institutions to Web3 markets.

This year, GMCI introduced the GMCI 30 Index, which tracks the top 30 digital assets by market cap. The index includes top cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).

Essentially, this new index was created to provide a snapshot of the crypto market and help assess industry stability and growth trends.

GMCI 30 integration

Pyth Network’s network of first-party data providers now offers developers permissionless and seamless access to GMCI 30 real-time price feeds. While Pyth already covers major traditional market indices such as DJIA and SPY, GMCI 30 is its first digital asset index publication.

WOO Ecosystem Vice President Ben Yorke expressed his excitement about the integration, highlighting the ongoing collaboration between GMCI, WOO and Pyth to develop valuable new indices.

”As a long-time data provider on Pyth Network, WOO X is excited to see the integration of the GMCI 30 index. GMCI is a partner in the WOO Innovation Center and we will continue to work with Pyth on new indices that provide value to both traders and consumers of Pyth Price feeds,” said Yorke.

Several DeFi protocols have started using the feed, including Bluefin, D8X Exchange, Pingu Exchange, Vela Exchange, and Horizon Protocol. The Pyth Network fosters innovation and trustworthiness in the digital asset market by providing real-time financial data for different blockchain ecosystems.