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>>Following the altcoin's announcement of a partnership with a leading cryptocurrency platform, its price surged before falling.

Following the altcoin's announcement of a partnership with a leading cryptocurrency platform, its price surged before falling.

crypthub

about 5 hours ago

Partnership Overview

Pyth Network (PYTH) partnered with Kalshi, the U.S.’s first federally regulated event‑exchange platform. Kalshi’s prediction‑market data will stream in real time to over 100 blockchains via Pyth. This enables large‑scale on‑chain publication of curated event data, letting developers, institutions and protocols create financial products based on future probabilities.

Market Impact & Comments

The news drove a sharp rise in PYTH’s price, seen in volatile charts. CEO Mike Cahill said prediction markets, highlighted during the 2024 U.S. election, turn future expectations into real‑time prices and that the deal advances Pyth’s goal of a comprehensive financial‑data ecosystem. He noted pride in being the first enterprise data provider to put prediction‑market data on‑chain.

Kalshi Details & Disclaimer

Kalshi is the leading CFTC‑regulated event exchange, recently raising $300 million at a $5 billion valuation and operating in 140 countries. This partnership is not investment advice; related coverage mentioned a short‑selling episode before a Trump tariff announcement. Readers can follow the alt‑coin’s price spike and subsequent drop.