Paiz rose 9 percent following the Polymarket merger. Does it rise?
Key receivers
PYTH is up 9% in the last 24 hours.
The move follows Paiz Network's merger with Polymarket.
PYTH, Pyth Network's native coin, has been one of the best performers in the crypto market over the past 24 hours. As the broader market recovers from Thursday's decline, it is likely to rally higher in the near term.
PYTH demonstrations at Polymarket integration
On Thursday, the Pitt Network announced that A Blog post Polymarket, the world's largest prediction market platform, has integrated Pit Pro as a data source for new traditional asset contracts.
Initial offerings include gold, silver and major equity index ETFs. Polymarket now relies on Pyth Pro data to power daily up/down and daily close markets, with live price charts updated every second to ensure full transparency.
The combination has seen PYTH rally by 9% over the past 24 hours and is now trading at $0.0420 per coin.
Pyth Pro provides real-time price data via WebSocket, which shows Polymarket a live “price to beat” chart every second. This allows traders to track market conditions from their location.
The selected assets include major equity indices, commodities such as gold, silver, WTI crude and natural gas, and more than a dozen popular US stocks, including a broad range of traditional financials such as TSLA, Coins and PLTR.
Polymarket has integrated this real-time data as a key component of its ever-future trading platform. Pyth Pro delivers institutional-grade market data directly from leading companies, ensuring it is accurate, transparent and comparable across asset classes and regions.
To improve this, Pitt has partnered with industry leaders and government agencies such as Cboe, Jane Street, Revolut and the US Department of Commerce. This collaboration helped establish a new model for making market information more accessible, accurate and transparent.
When the bulls come in, PYTH eyes $0.050
The PYTH/USD 4-hour chart is weak and bearish even though the coin has gained 9% in value over the past 24 hours.
Technical indicators are bullish, indicating that the bulls are dominating the market. The RSI of 63 is above the neutral 50 and will enter overbought territory if the rally continues.
The MACD lines are also in the positive territory, which indicates a strong bullish bias. If the rally continues, PYTH may test the $0.050 psychological level for the first time since March 17th.
However, if the bears regain control, PYTH could retest Thursday's low of $0.038 in the next few hours or days.
