Pyth announced that it had access to NASDAQ TotalView in its data market, bringing more complete United States stock order book data into the chain market. For DeFi traded products and monetized stock markets that rely on prophecies for pricing, this means that the traditional financial intelligence available in the chain is further expanded.
NASDAQ provides complete order book data
TotalView is a deep-line product provided by NASDAQ, covering price quotations and billing information for each price position and no longer showing only the most up-to-date offer or limited slot data. Pyth states that this data will enter the Pyth Data Marketplace through the chain distribution layer for use by the chain applications and institutions.
Prophecies are part of the encryption-trading infrastructure and are used extensively for the renewal of contracts, spot pricing and tokenized asset quotations. This is not a single price but more complete order flow information. For the chain-based market, this can complement the previously price-only, difficult-to-stand structure constraints.
Further increase the visibility of transactions on the chain
According to Pyth, there is a chronic information gap between traditional finance and DeFi. In the past, market data were usually distributed at layers by exchanges, institutions and data providers, and the data received by end users were often more fragmented and more expensive to access.
With access to TotalView, the chain market, besides seeing price changes, is able to observe the distribution of purchase and sale at different prices. The article mentions that the data also include a net order imbalance indicator, which can be used to observe changes in sales power up to critical points.
- Overwrite price quotations and list information
- Include net order imbalance indicators
- Data distributed through Pyth Data Marketplace
Solana Currencyized Stock or Benefit
According to the article, the trade in monetized shares on Solana has recently risen to a new high, and the demand for more finer particle size data in the chain market is rising. For such assets, time points such as opening, closing and indexing tend to be more likely to be concentrated and price fluctuations.
In the text, for example, Bloom Energy stated that the Unit had experienced significant fluctuations before and after the closing of the bookings, in the context of passive fund consolidation. If the chain market can only read the price results, it is difficult to reverse the process of volatility; if it is able to access the complete order book, traders will have a better judgement of the liquidity and order imbalance on the plate.
Pyth describes this access as a step towards reducing the information gap in traditional financial and chain markets. As more institutional data enters the chain distribution network, the pricing transparency of Solana up-to-date monetization stocks and related transactions may continue to improve.