Pyth August 2026 Report: Building the Price of Everything Layer

Article contributed by: Douro Labs

$10.4M in annual recurring revenue. $2.9M in gross new ARR. Pyth’s biggest commercial month yet.

August was Pyth’s biggest commercial month yet: Pyth overall crossed $10.4 million in annual recurring revenue, Pyth Indices reached $1.59 million in fixed annual recurring revenue (excluding variable rev share), and Pyth Terminal hit new highs with 90,850 visitors, 445,382 page views, and 2,397 completed free trials during the month.

Numbers like these are easy to read as a good month. Looked at together, they describe something more structural: the product, the commercial model, and the market around Pyth are moving in the same direction at the same time. Institutions are expanding their use of Pyth Pro, exchanges are launching continuous index products, publishers are distributing specialized datasets through the Data Marketplace, and developers are evaluating market data through an API first product experience rather than a sales conversation. That alignment, more than any single figure, is what August was really about.

August by the numbers

• Overall ARR crossed $10.4 million in August.

• Gross new ARR reached approximately $2.9 million, compared with approximately $1.7 million in July.

• Pyth Indices reached $1.59 million in ARR.

• 45 Pyth Indices are stable in the live catalog, with 14 additional index feeds marked coming soon.

• Pyth Pro recorded 2,397 Pyth Pro free trials completed between August 1 and August 31.

• The Terminal recorded 90,850 visitors, 134,226 sessions, and 445,382 page views during the month.

• Users generated 191,526 feed view events, with 9,197 distinct feed viewers exploring 886 feeds.

Figures above as per the latest report from Douro Labs.

Commercial momentum came from both new subscriptions and expansion of existing accounts.

Pyth Pro: an API-first market data product

Pyth Pro delivers customizable, enterprise grade price data directly from first party publishers. Subscribers configure the feeds they need and choose update schedules that fit their applications, all delivered through standard APIs, giving developers, trading platforms, institutions, and AI systems one integration across a growing set of asset classes.

The Pyth Terminal is the front door to that product, where users explore the catalog, inspect how prices are formed, compare publisher inputs, review historical data, choose a plan, generate an API key, and start a trial, turning market data discovery into a self serve product workflow, which is exactly what shows up in the August account data above.

Top 5 Pyth Pro feeds

Figures above as per the latest report from Douro Labs.

Outside of the Indices catalog, exploration in Pyth Pro tells its own story. Spot gold (XAU/USD) led the field, with WTI crude close behind across two separate contract months, WTIU6 and WTIV6 together showing that users are comparing near term and forward pricing rather than just checking a single quote. Bitcoin was the only crypto feed to break into the top five, a reminder that it still commands attention, but it's now competing directly with physical commodities for that attention rather than dominating the Terminal outright. Silver rounds out the list, echoing the metals interest that shows up even more strongly in the Indices numbers below.

Pyth Indices: pricing markets that never close

Pyth Indices reached $1.59 million in live ARR by the end of August, including $1,280,250 in new ARR added during the month making it the strongest month to date, underscoring demand for always-on markets. The live catalog now includes 45 live index products, with 14 more marked coming soon, spanning US equities, oil, metals, FX, thematic baskets, and other markets designed to support pricing beyond traditional exchange hours.

Commercial demand accelerated sharply during the month, with continued expansion and adoption from OKX, Kraken, Binance, Coinbase, and MarketVector.

The significance here goes beyond any one contract. Index products give venues a way to offer continuous exposure to markets that were originally built around a closing bell, and they give Pyth a genuine product surface for supporting new market formation, backed by transparent methodology, direct data sourcing, and a single API.

Top 5 Pyth Indices feeds

Figures above as per the latest report from Douro Labs.

The gap at the top is stark. Gold and Oil indices pulled in more than four times the users of anything else in the catalog, with Silver a clear third and still well ahead of Brent and Natgas. Between them, Gold, Oil, and Silver account for the overwhelming majority of Indices activity in the Terminal this month, evidence that continuous commodity and metals pricing is currently the center of gravity for Indices demand, even as US equity and thematic products build out the rest of the catalog.

Read alongside the Pyth Pro numbers above, the pattern across the whole Terminal is consistent: Gold, Oil, and Silver indices dominated overall interest, while exploration in Pyth Pro beyond Indices was led by spot metals, WTI, Bitcoin, and futures.

Growing the publisher network, and pricing IPOs from day one

The price of everything only works if the data behind it keeps growing, and August's coverage story was really a story about publishers and about how fast Pyth gets a price onto a newly listed asset. Both moved in the same direction this month.

On the publisher side, growth was steady rather than headline making: more than 138 institutions now contribute first party data to Pyth, spanning equities, crypto, FX, commodities, and metals, and August brought a significant upgrade to the Publisher Dashboard, making it easier for those institutions to see and manage their own contribution to the network. That's the less visible half of coverage. The more visible half is what happens the moment a new asset starts trading.

Pyth delivered Unitree data from the opening print, making China's first pure play humanoid robotics listing available to applications and exchanges the moment the public market opened, Pyth's second day one feed for a mainland Chinese IPO after CXMT. TrueCurrent extended that same principle beyond the technology cluster: Pyth Pro catalogs 1,024 stable US equity feeds, and TrueCurrent has now made 112 of them tradeable onchain across eight sectors, including healthcare, defense, energy, financials, and industrials.

The month also carried forward the Asian equities expansion, new commodity and metals coverage, and stronger conversion from Pyth Core customers into Pyth Pro, each one adding to the number of workflows a single integration can support.

Taken together, that's what pricing everything actually requires in practice: a publisher base broad enough to have the data in the first place, and a pipeline fast enough to put a price on it the day it starts trading, not the week after.

Figures above as per the latest report from Douro Labs.

What August showed

August made the direction of Pyth hard to miss. Commercial adoption is accelerating, expansion revenue is becoming a bigger share of growth rather than an afterthought, and the Terminal has turned market data discovery into a scalable product experience instead of a lead form. Pyth Indices is becoming a meaningful source of recurring revenue in its own right, opening up markets that need prices beyond the traditional trading day.

September will carry that momentum onto the road. Pyth contributors will be present at the major financial infrastructure events across New York, Miami, Seoul, San Francisco, London, Singapore, Copenhagen, Geneva, and Hong Kong through the rest of the year, on stage, on the exhibition floor, and in direct conversation with the institutions shaping what comes next for market data.

The common thread is access: more institutions contributing, more applications consuming, more markets priced continuously instead of closing for the night. Piece by piece, that's what the price of everything looks like in practice.

The price of everything starts in Pyth Terminal. Go explore the catalog.