🟣 Pyth’s revenue continues to rise. What is driving it? For nearly four years, Pyth provided its price feeds free of charge to a large share of DeFi, particularly perpetual DEXs. The network had become essential, yet it generated almost no revenue. Most activity was funded through the solana:HZ1JovNiVvGrGNiiYvEozEVgZ58xaU3RKwX8eACQBCt3 token, via rewards paid to publishers. The turning point came in September 2025 with Pyth Pro, a market-data product sold on a subscription basis to exchanges, trading firms, and banks. In its first month, the product exceeded $1 million in annual recurring revenue (ARR). Monthly revenue has risen steadily since then: ◻️December 2025: $90,000 ◻️March 2026: $254,000 ◻️June 2026: $455,000 ◻️July 2026: $563,000 Over the same period, the number of paying accounts increased from 54 at the end of 2025 to 122 in July. Growth is no longer dependent on a single product. Launched only two months ago, Pyth Indices already contribute roughly $1.5 million in ARR. Total ARR now stands at $10.4 million, following a $2.9 million increase in August alone. This figure does not yet reflect the Core Upgrade, which since August 26 has made historical price feeds paid, feeds that hundreds of applications had previously used at no cost. Relative to the financial data market @PythNetwork is targeting, estimated at $50 billion a year, these results remain modest. Even so, the hardest step appears to have been taken: customers are willing to pay for this data, and their number is growing. The question that matters most to holders remains open. Will Pyth’s commercial success ultimately be reflected in its token? Our full analysis is available in the article below. 👇