📝 Editor's Note:

After kicking off this series last week, OurNetwork is back with part two of its data protocols series. As defined in the previous issue, data protocols are projects in crypto which fetch, serve, or store onchain data.

Special thanks to Maus, Anthony, and Marcin for covering Celestia, Pyth, and RedStone respectively in this one. Let's dig in.

– ON Editorial Team

Celestia | Pyth | RedStone

• Celestia's market share in the data availability (DA) provider space has declined to 48%, down over 30 percentage points since April. That shift that coincides with a sharp drop in overall DA utilization as Eclipse, an Ethereum Layer 2 which can run Solana-compatible code, has reduced its usage of Celestia significantly since a snapshot (likely for a token generation event). Despite the slowdown, Celestia remains the most cost-effective option, with the price to store data reaching an all-time low of $0.02 per megabyte. That's 35 times cheaper than Ethereum Blobs, which currently cost $0.70 per MiB.

• Overall network revenue is down on a weekly basis, blob fees, which are the fees users pay to store data, are increasingly dictating momentum for Celestia. Since April 2025, network revenue has stabilized around 1M TIA (Celestia's native token) per week.

• Most protocol-level metrics for Celestia are down, mainly due to Eclipse reducing usage. However, activity is becoming more diversified, with over 65 unique IDs now consistently posting data. That's a 20% increase since the April drop, which points to a broader and more resilient usage base.

• Pyth Network delivers real-time, low-latency price oracles powering the intersection of DeFi and CeFi protocols across multiple chains. Over the past year, total feeds have surged 205% from roughly 500 to 1526, while unique crypto feeds rose 116% from around 300 to 647, underscoring broadening adoption and strong developer demand from 91 blockchains.

• From Jun. 17, 2024 to Jun. 17, 2025, Pyth’s market cap plunged 53.7% from $1.2B to $596.6M, the total value locked (TVL) from staking slid 59.3% from $357.4M to $145.4M, and daily volume fell 30.4% from $44.6M to $31.0M. Year-to-date, market cap is down 54.6% and staking is down 62.1%, signaling ongoing deleveraging.

• 5.75B PYTH, 57.5 % of the token's total supply, have vested. The remaining 4.25B PYTH, is allocated to four entities — Ecosystem Growth at 2.25B, Publisher Rewards at 1.08B, Protocol Development at 0.425B, and Private Sales at 0.5B. The six-month cliff ended in November 2024 an initial tranche of roughly 0.5B PYTH unlocked, which triggered sell pressure.

• RedStone is a fast growing blockchain oracle with $6.3B in total value secured (TVS) and over 170 clients like Compound, Morpho, Ethena, Lido, TON, and Spark. RedStone is also official blockchain oracle for Securitize, BlackRock BUIDL, VanEck VBILL, Apollo ACRED and Hamilton Lane SCOPE.

• RedStone has been growing steadily in TVS, with 3,600% growth since the production launch in early 2023. It is a top three blockchain oracle on the market, with the most comprehensive product offering with RedStone Bolt, RedStone Atom, and more.

• Chainlink, an essential piece of DeFi infrastructure, has been repeatedly causing unnecessary liquidations due to its reliance on its VWAP (volume-weighted average price) mechanism. Assets that trade only onchain could be priced based on the liquidity instead, protecting users, as RedStone has been advocating for.