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Pyth Network launches GMCI 30 crypto market index

The Pyth Network has 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 be streaming GMCI index prices,” said Maarten Botman, CEO of GMCI. “This collaboration represents a significant step forward in our mission to become the benchmark of choice in the crypto space.”

GMCI specializes in creating indexes for digital assets, which provides 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 based on market capitalization. The index includes top cryptos like Bitcoin (BTC) and Ethereum (ETH).

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

GMCI 30 integration

Pyth Network’s first-party data provider network now offers developers permissionless and seamless access to the GMCI 30 real-time price feed. While Pyth already covers major traditional market indices like the DJIA and SPY, the GMCI 30 is its first digital assets index feed.

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

”As a long-standing data provider on the Pyth Network, WOO X is excited to see the integration of the GMCI 30 index. GMCI is a partner of the WOO Innovation Hub and we will continue to work together with Pyth on new indices that provide value to both traders and 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. The Pyth Network provides real-time financial data for different blockchain ecosystems, fostering innovation and reliability in the digital assets market.