Pyth Network Releases New XRP Price Feed On Up To 20 … – The Crypto Basic

XRP is set to witness greater exposure following Pyth Networks recent decision to release the XRP/USD price feed for DeFi protocols.

Pyth Network, a Solana-based decentralized oracle solution, has announced the release of an XRP price feed to address the growing demand from different platforms. This development is expected to further bolster XRPs exposure by allowing numerous platforms access to real-time XRP price data.

Pyth Network revealed the move in a recent tweet. Per the disclosure, the Oracle solution has made the XRP/USD price feed available on up to 20 blockchains at the reporting time. This essentially means that smart contracts on these blockchains can now access the live price of XRP in US dollars.

For the uninitiated, Pyth Network is an Oracle solution that provides real-time, high-quality data feeds to decentralized applications (dApps) and smart contracts. The platform aggregates and validates data from various sources, including traditional financial institutions, and provides this data on-chain for developers.

Price feeds are crucial for decentralized applications that rely on accurate and up-to-date pricing information. Having a reliable and decentralized XRP price feed from Pyth Network would enhance the transparency and trustworthiness of applications that utilize XRPs price for various purposes, such as trading, lending, or portfolio management.

By integrating with Pyth Network, developers and platforms can leverage the XRP price feed to create or enhance new applications. This integration can increase the visibility and usage of XRP within the decentralized finance (DeFi) ecosystem, attracting more users, investors, and developers to the XRP market.

Notably, the XRP/USD price feed will join the numerous existing price feeds hosted by Pyth Network, including feeds of crypto assets, foreign exchange currencies, equities, and conventional commodities. It is important to note that the XRP/USD price feed is already hosted on numerous other Oracle solutions, including Binance Oracle.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.


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Pyth Network Releases New XRP Price Feed On Up To 20 ... - The Crypto Basic

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