TechFlow reported, according to a Cointelegraph article, that despite having a relatively low Total Value Secured (TVS), the decentralized oracle protocol Pyth Network has surpassed Chainlink in 30-day trading volume, reaching $36 billion. The article suggests this growth may be attributed to Pyth's innovation based on the Pull Oracle model, which delivers data only upon request rather than through periodic updates—making it particularly suitable for the demands of high-frequency trading applications.
Additionally, Niklas Kunkel, former Oracle leader and founder & CEO of Chronicle, commented in the article that Chainlink’s market share appears to be increasingly captured by three key players: Chronicle, Pyth, and Redstone. Pyth and Redstone, focusing on speed-optimized Pull Oracles, are seen as ideal choices for derivatives and options protocols.
