Chainlink dominance challenged by Pyth’s 46X growth in 2024

While Chainlink retains a strong lead, Pyth’s rapid rise in Total Value Secured hints at shifting dynamics in the Oracle market.

Chainlink, a decentralized oracle provider, faces increased competition in the oracle market despite being a long-established dominant force.

Through 2024, Pyth, a decentralized oracle network, has grown significantly, increasing its Total Value Secured (TVS) by 46x, from $98.35 million to $4.67 billion in nine months.

The expansion of the decentralized network in the oracle market comes as it extends its reach to 211 chains and pits itself as a serious contender as a real-time data oracle.

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While Chainlink retains a strong lead, Pyth’s rapid rise in Total Value Secured hints at shifting dynamics in the Oracle market.
Chainlink, a decentralized oracle provider, faces increased competition in the oracle market despite being a long-established dominant force.Through 2024, Pyth, a decentralized oracle network, has grown significantly, increasing its Total Value Secured (TVS) by 46x, from $98.35 million to $4.67 billion in nine months.The expansion of the decentralized network in the oracle market comes as it extends its reach to 211 chains and pits itself as a serious contender as a real-time data oracle.Read more